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GBPUSD Daily Forecast: March 13

GBPUSD Daily Forecast: March 13
Tuesday, March 13th, 2018 @ 12:44 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 yesterday topped at 1.3916. The bias is bullish in nearest term. Price is now testing the upper line of the bearish channel as you can see on my daily chart below, located around 1.3930/50 area. A clear break and daily close above the bearish channel would be a serious threat to the bearish correction phase testing 1.4000 region. Immediate support is seen around 1.3860. A clear break below that area could lead price to neutral zone in nearest term testing 1.3800 – 1.3750 support area. My major bullish outlook remains intact but need a clear break at least above 1.4000 to retest 1.4275 key resistance area.

gbp/usd bearish channel

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