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GBPUSD Daily Forecast: May 05

GBPUSD Daily Forecast: May 05
Friday, May 5th, 2017 @ 2:29 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 bottomed at 1.2830 but whipsawed to the upside and closed higher at 1.2920. As you can see on my H1 chart below, price slipped below the H1 EMA 200 but moved back above the EMA 200, keeps the bullish trend intact. The bias is bullish in nearest term testing 1.2965. Immediate support is seen around 1.2875. A clear break below that area could lead price to neutral zone in nearest term retesting 1.2830 but as long as stay above 1.2780/50 I still prefer a bullish scenario at this phase. Fundamental focus today will be on the US NFP number.


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