GBPUSD Daily Forecast: July 03

  on

GBPUSD Daily Forecast

The GBPUSD had a bearish momentum yesterday. The pair bottomed at 1.4322 and closed at 1.6391. On h4 chart below we can see that after failed to stay above 1.6660 key resistance level the pair reversed to the downside and violated the trendline support. This fact should support bearish view in nearest term, but medium term remains unclear. The bias is bearish in nearest term testing 1.6240. Immediate resistance at 1.6420. Break above that area should trigger further bullish momentum. CCI just cross the -100 line down on h4 chart suggesting potential downside pressure.

Join the Discussion