GBPUSD Daily Forecast: February 04

By @ibtimes on

GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, topped at 1.6276 but whipsawed to the downside,  closed lower at 1.6121. The bias is bearish in nearest term especially if price able to make another strong break below 1.6120 targeting 1.6000 as the intermediate bullish target around 1.6300 can be considered reached and may create a range area between 1.6300 – 1.6000 in the near future. A break below 1.6000 could trigger further bearish pressure testing 1.5780/50 support area and cancel the bullish outlook.

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