GBPUSD Daily Forecast: July 06

GBPUSD Forecast

The GBPUSD continued its bearish momentum yesterday bottomed at 1.5498 and closed at 1.5527. The bias remains bearish in nearest term especially if price able to make a clear break below 1.5500 key support area testing 1.5400 or lower. Immediate resistance is seen around 1.5570 – 1.5600. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. My medium outlook remains neutral. The daily EMA 200 resistance area located around 1.5800 is still a valid and strong resistance. Fundamental focus today is on the US NFP number.

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