GBPUSD Forecast:

The GBPUSD made a gap today, opened about 100 pips lower than Friday’s close price. While the bullish scenario is in a serious threat as price violated the bullish channel, gaps are usually filled and big gaps may produce volatile movement without clear technical direction. I think I will stand aside form now. The bias is bearish in nearest term but like I said price may attempt to fill the gap by moving higher towards the lower line of the bullish channel. Immediate support at 1.5202. Break below that area could trigger further bearish momentum testing 1.5150 region before targeting 1.5000. Initial resistance at 1.5391.

Related Posts:

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  • Daily Forecast for Crosses: April 12
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  • GBPUSD Daily Forecast: April 07
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