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GBPUSD Daily Forecast: April 16

GBPUSD Daily Forecast: April 16
Monday, April 16th, 2018 @ 5:02 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo

Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own.

Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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GBPUSD Forecast
The GBPUSD had a bullish momentum last week topped at 1.4297 but closed a little bit lower at 1.4236. The bias is neutral in nearest term. We have a bearish pin bar printed around the key resistance as you can see on my daily chart below, suggests a potential bearish pullback. Immediate support is seen around 1.4220. A clear break below that area would confirm the bearish pin bar scenario testing 1.4170 or lower. On the upside, a clear break and daily close above 1.4297 would invalidate the bearish pin bar scenario and resume the major bullish trend testing 1.4350 or higher.

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