GBPUSD Daily Forecast: August 06

GBPUSD Forecast

The GBPUSD had a strong bullish momentum on Friday, but corrected lower earlier today hit 1.5554. The bias is bearish in nearest term testing 1.5550 – 1.5500 but overall price is still trapped in range area as you can see on my h4 chart below. Immediate resistance is seen around 1.5615. A clear break above that area could lead price to neutral zone in nearest term testing 1.5670 – 1.5700 resistance area.

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