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GBPUSD Daily Forecast: July 18

GBPUSD Daily Forecast: July 18
Wednesday, July 18th, 2018 @ 4:04 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 bearish momentum yesterday bottomed at 1.3068. The bearish pin bar at the EMA 200 as you can see on my H4 chart below gave a valid bearish signal. The bias is bearish in nearest term testing 1.3050 – 1.3000 key support area which is a good place to buy with a tight stop loss as a clear break below 1.3000 could trigger further bearish scenario exposing 1.2750 area. Immediate resistance is seen around 1.3150. A clear break above that area could lead price to neutral zone in nearest term testing 1.3200 area.

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