GBPUSD Daily Forecast: March 13

GBPUSD Forecast

The GBPUSD had another indecisive movement yesterday. There were some upside pressures earlier today hit 1.4960. The bias is neutral in nearest term probably with a little bullish bias testing 1.5000 area but any upside pullback now is normal and overall I still prefer a bearish scenario with sell on rallies strategy. Immediate support is seen around 1.4900 – 1.4885. A clear break below that area could trigger further bearish pressure testing 1.4800. On the upside, a clear break and daily close above 1.5000 could trigger further bullish correction testing 1.5050 – 1.5100.