GBPUSD Daily Forecast: May 17

By @ibtimes on

GBPUSD  Forecast

The GBPUSD was indecisive yesterday. Price attempted to push higher but found a good intraday resistance around 1.6250. The bias remains bearish in nearest term as price is still in a context of a bearish scenario since the break below the bullish channel especially if price able to make a clear break below 1.6164 testing 1.6000 – 1.5970 support area. Immediate resistance remains around 1.6230/50. A clear break above that area would lead us back to neutral zone in nearest term, but overall I still prefer a bearish scenario at this phase.

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