GBPUSD Daily Forecast: May 01

GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.3710 but closed a little bit higher at 1.3755. While the overall short-term bias remains bearish as a part of the bearish phase after the false breakout above 1.4275, 1.3710 region and the trend line support remains a good place to buy with a tight stop loss below the trend line support (1.3650) as a clear break below the trend line support would end the major bullish trend. Immediate resistance is seen around 1.3805. A clear break above that area could trigger further bullish pressure testing 1.3850/70 region.