GBPUSD Daily Forecast: December 31

By @ibtimes on

GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.5366 but once again, the trend line support did a good job preventing further bearish pressure as you can see on my daily chart below, and price closed higher at 1.5428 and hit 1.5460 earlier today in Asian session. Overall there are no changes in my daily outlook where major scenario remains bearish but as long as the trend line support hold, we may see another upside attempt. Immediate support at 1.5350. Clear break below that area could be an early signal of a bearish continuation targeting 1.5000. Immediate resistance at 1.5550/75. Clear break above that area could trigger further bullish correction testing the upper line of the bearish channel. Happy New Year! May we all have a more profitable year.

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