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GBPUSD Daily Forecast: March 21

Monday, March 20, 2017 19:33
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(Before It's News)

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.2435 but closed lower at 1.2357. Price is still in a bullish phase after bounced from 1.2135/08 but as you can see on my daily chart below, we have a Doji/pin bar formation which is a warning of a potential bearish pullback. The bias is neutral in nearest term probably with a little bearish bias testing 1.2300 support area. A clear break and daily close below that area would retest 1.2135/08 key support. On the upside, key resistance is seen at 1.2435. A clear break and daily close above that area would continue the bullish scenario targeting 1.2570 region. Overall I remain neutral.



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