GBPUSD Daily Forecast: April 26

GBPUSD Forecast
The GBPUSD regained its bearish momentum yesterday bottomed at 1.3921. The bias is bearish in nearest term especially if price able to make a clear break below 1.3917 testing 1.3850 or lower as a part of the bearish correction phase after the false breakout above 1.4275 key resistance. Immediate resistance is seen around 1.4000. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 1.3850 would expose 1.3710 key support area and the major trend line support which is a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate my major bullish outlook.