GBPUSD Daily Forecast: May 31

GBPUSD Forecast
The GBPUSD was corrected higher yesterday on broad US Dollar correction, topped at 1.3307. The bias is bullish in nearest term testing the H1 EMA 200 located around 1.3350 area. A clear break and daily close above the EMA 200 could trigger further bullish correction testing 1.3380 – 1.3420 area, but note that price has been moving below the EMA 200 for about seven weeks now so a small pullback above the EMA 200 won’t be a surprise and is not a serious threat to the major bearish outlook. Immediate support is seen around 1.3275. A clear break below that area could lead price to neutral zone in nearest term testing 1.3240/00 region.