The Gbpusd was indecisive last week. Price attempted to push higher but rejected above 1.3000 and D1 EMA 200 as you can see on my daily chart below. The bias is neutral in nearest term probably with a little bearish bias testing 1.2800 region. Immediate resistance is seen around 1.2900 – 1.2930. A clear break above that area could trigger further bullish pressure retesting 1.3000 area which remains a good place to sell with a tight stop loss as a clear break above 1.3000 would be a serious threat to the major bearish trend.
This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here