GBPUSD Daily Forecast: August 01

GBPUSD Forecast
The GBPUSD had another indecisive movement yesterday. Price slipped above the bearish channel, topped at 1.3173 but closed lower back inside the bearish channel as you can see on my H4 chart below. The bias is neutral in nearest term. Immediate support is seen around 1.3070. A clear break below that area could trigger further bearish pressure retesting 1.3000 psychological support area which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 1.3160/75. A clear break above that area could trigger further bullish pressure testing 1.3215 region. Fundamental focus will be on the US NFP on Friday.