GBPUSD Daily Forecast: April 02

GBPUSD Forecast
The GBPUSD attempted to push higher last week topped at 1.4243 but whipsawed to the downside an closed lower at 1.4009. From a H4 chart perspective as you can see on my H4 chart below we have a confirmed “head and shoulders” formation. The bias is bearish in nearest term especially if price able to make a clear break below 1.4010 testing 1.3950 or lower. Immediate resistance is seen around 1.4075. A clear break above that area could lead price to neutral zone in nearest term testing 1.4150 region.

Head and shoulders pattern: forex trading