GBPUSD Daily Forecast: June 08

GBPUSD Forecast
The GBPUSD was volatile but indecisive yesterday. The bias is neutral in nearest term. My major bearish outlook remains valid, but price is moving above the EMA 200 and a trend line support as you can see on my H1 chart below, suggests a valid bullish correction bias. Immediate support is seen around 1.3380. A clear break below that area could trigger further bearish pressure testing the trend line support located around 1.3330 region which need to be clearly broken to the downside to end the current bullish correction phase and reactivate my bearish mode. On the upside, a clear break and daily/weekly close above 1.3480 would resume the bullish correction phase targeting 1.3600 region next week.