GBPUSD Daily Forecast: May 02

GBPUSD Forecast
The GBPUSD had a significant bearish momentum yesterday slipped below the trend line support as you can see on my daily chart below, but the EMA 200 support (around 1.3600) still holds so far. A clear break below 1.3600 would confirm the invalidation of the major bullish trend with nearest bearish target seen at 1.3460. From another technical perspective, there is also a confirmed double top formation, which amplify the bearish scenario. The bias is bearish in nearest term. Immediate resistance is seen around 1.3660. A clear break above that area could lead price to neutral zone in nearest term but only a clear break back above 1.3710 would interrupt the bearish outlook and give the bullish scenario another chance.