The Gbpusd attempted to push higher yesterday topped at 1.2524 but closed lower at 1.2467. Overall price is still in a bearish phase since fell below the bullish channel as you can see on my H1 chart below but still unable to stay consistently below the H1 EMA 200 and moving inside a minor bullish channel. The bias is neutral in nearest term probably with a little bullish bias testing 1.2530 – 1.2550 region. Immediate support is seen around 1.2450. A clear break below that area could trigger further bearish pressure testing 1.2375 key support which need to be clearly broken to the downside to continue the bearish scenario. Overall I remain neutral.
This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here