GBPUSD Daily Forecast: August 03

GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday bottomed at 1.3013. The bias is bearish in nearest term but note that 1.3000 psychological level remains a good place to buy with a tight stop loss. Immediate resistance is seen around 1.3070. A clear break above that area could lead price to neutral zone in nearest term retesting the upper line of the bearish channel located around 1.3100 region. On the downside, a clear break and daily/weekly close below 1.3000 – 1.2950 would target 1.2750 next week. Fundamental focus today will be on the US NFP.