GBPUSD Daily Forecast: May 07

GBPUSD Forecast
The GBPUSD continued its bearish momentum last week hit a fresh three-weeks low at 1.3483 as a part of the bearish phase after the false break above 1.4275 key resistance and a break below the major trend line support as you can see on my daily chart below. The bias remains bearish in nearest term testing 1.3460. Immediate resistance is seen around 1.3585. A clear break back above that area could lead price to neutral zone in nearest term but as long as stay below 1.3710 I remain bearish and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 1.3460 would expose 1.3300 area.