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GBPUSD Daily Forecast: April 06

Wednesday, April 5, 2017 18:49
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(Before It's News)

GBPUSD Forecast
The GBPUSD failed to continue its bearish momentum yesterday topped at 1.2497 and hit 1.2501 earlier today in Asian session. The bias is neutral in nearest term. As you can see on my H1 chart below, price is moving inside a triangle formation suggests a consolidation phase after a bullish run from 1.2108 on March 14. Price needs to break above the triangle (1.2525) to continue this bullish run retesting 1.2615 region. On the downside, the lower line of the triangle located around 1.2425 and 1.2375 are key supports at this phase. Fundamental focus will be on the US NFP on Friday. Overall I remain neutral.



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