GBPUSD Daily Forecast: March 23

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.4218 but whipsawed to the downside and closed lower at 1.4099, printed a bearish pin bar as you can see on my daily chart below. Overall I remain bullish but the appearance of the bearish pin bar just above 1.4275 key resistance is not a good news for the bullish scenario. The bias is neutral in nearest term. Immediate support is seen around 1.4075. A clear break below that area would support the bearish pin bar scenario testing 1.4000 region. On the upside, we need a clear break above 1.4218 to invalidate the bearish pin bar scenario testing 1.4275 or higher.

Bearish pin bar