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GBPUSD Daily Forecast: May 16

GBPUSD Daily Forecast: May 16
Wednesday, May 16th, 2018 @ 1:45 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 had a bearish momentum yesterday, slipped below 1.3480 stubborn support but closed higher at 1.3502. The bias is bearish in nearest term especially if price able to make a consistent movement below 1.3480 testing 1.3330 support area. Immediate resistance is seen around 1.3525. A clear break above that area could lead price to neutral zone in nearest term testing 1.3600 region but as long as stay below 1.3710 I remain bearish and any upside pullback should be seen as a good opportunity to sell.

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