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GBPUSD Daily Forecast: March 02
Wednesday, March 1, 2017 19:16
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GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday broke below 1.2340 key support and hit 1.2260 earlier today in Asian session. The bias is bearish in nearest term testing 1.2250 – 1.2200 support area. Immediate resistance is seen around 1.2340. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.
Source: http://fxinstructor.com/blog/gbpusd-daily-forecast-march-02-5
GU really took big dip, it will be interesting to see where things could pull up, but by looks of things, I believe this is just likely to continue and we will see it drop even further, so it is important to focus. I never worry too much, as I always go for long term trades with tight money management. I get helped in both departments thanks to OctaFX broker due to their 50% Bonus on deposit offering and daily market updates.