GBPUSD Daily Forecast: May 25

By @ibtimes on

GBPUSD  Forecast

The GBPUSD was corrected higher yesterday, but still move below the trend line resistance as you can see on my h4 chart below and any upside pullback at this phase should be considered just as a normal corrective move. Only a movement above the trend line resistance could stop the current strong intraday bias with nearest bearish target remains around 1.6000 especially if price able to make a clear break below 1.6100. Immediate resistance remains around 1.6230. A clear break above that area would halt the current intraday bearish outlook testing 1.6305 resistance area and will activate my wait and see mode.

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