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GBPUSD Daily Forecast: January 12

GBPUSD Daily Forecast: January 12
Friday, January 12th, 2018 @ 8:18 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 attempted to push lower yesterday slipped below the range area as you can see on my daily chart below but whipsawed to the upside and closed higher back inside the range area and hit 1.3564 earlier today. This is a false break situation. The bias is bullish in nearest term testing 1.3615 key resistance. A clear break and daily/weekly close above that area would expose 1.3800/35 area next week. Immediate support is seen around 1.3495. A clear break and daily/weekly close below that area could trigger further bearish pressure testing the trend line support and 1.3330 area next week. Overall I remain bullish.

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