GBPUSD Daily Forecast: July 05

GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.3249. Although the bullish momentum is not so convincing, price already violates the bearish channel and only a movement back below 1.3170 would keep the bearish phase intact. The bias is bullish in nearest term testing 1.3315 area (H4 EMA 200). Immediate support is seen around 1.3170. A clear break and daily close back below that area would invalidate the bullish view and reactivate my bearish mode testing 1.3100 region before retesting 1.3050 area.