GBPUSD Daily Forecast: May 03

GBPUSD Forecast
The GBPUSD resumed its bearish momentum yesterday bottomed at 1.3552. I think price has convincingly broke below the trend line support, which not only invalidate the major bullish trend but also could signal a bearish reversal. The bias remains bearish in nearest term testing 1.3500 – 1.3460 region. Immediate resistance is seen around 1.3625. A clear break above that area could lead price to neutral zone in nearest term testing 1.3660 area but as long as stay below 1.3710 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.