GBPUSD Daily Forecast: April 27

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.3996 but closed lower at 1.3912, printed a bearish pin bar as you can see on my daily chart below. This fact keeps the bearish bias after the false breakout above 1.4275 remain strong. The bias remains bearish in nearest term testing 1.3850. Immediate resistance is seen around 1.3960. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 1.4000 would interrupt the bearish correction phase. On the downside, a clear break and daily/weekly close below 1.3850 would expose 1.3710 and the trend line support area next week, which remains 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.