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GBPUSD Daily Forecast: January 11

GBPUSD Daily Forecast: January 11
Friday, January 11th, 2019 @ 4:45 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 failed to continued its bullish momentum yesterday. The bias is neutral in nearest term but overall price is still in a bullish correction phase triggered by the bullish pin bar as you can see on my daily chart below. Immediate resistance is seen around 1.2800. A clear break above that area would target 1.2875 region. Immediate support is seen around 1.2700. A clear break and daily/weekly close below that area would interrupt the bullish phase but only a break below 1.2400 would invalidate the bullish pin bar scenario and resume the major bearish trend.

gbpusddaily

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