GBPUSD Daily Forecast: July 12

GBPUSD Forecast

The GBPUSD had another indecisive movement yesterday. Price attempted to push higher, slipped above 1.5550 but further bullish pressure was rejected and closed lower at 1.5506. The bias is neutral in nearest term but as long as stays below the daily EMA 200, the overall intraday bias remains to the downside after fell from 1.5720 last week still testing 1.5400 region. On the upside, key intraday resistance is seen around 1.5600/50. A clear break above that area could trigger further bullish pressure retesting the daily EMA 200.

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