GBPUSD Daily Forecast May 04 2017

GBPUSD: Bullish But Hesitates Ahead Of 1.2945 Levels!

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GBPUSD: Bullish But Hesitates Ahead Of 1.2945 Levels!

Outlook in GBPUSD remains on the upside as long as 1.2864 support holds on a daily closing basis, resistance comes at the 1.2945 levels, a halt is likely but a break will extend gains towards the 1.3000/1.3085 levels, further upside, resistance stands at the 1.3245 levels.

On the downside, immediate support comes at the 1.2864 levels, below that level sees a corrective pullback towards the 1.2770 levels before the next rising… Below 1.2770 will bring large pullback to the 1.2615/1.2480 levels

Conclusion: The GBPUSD continues to face upside threats above the 1.2864 levels…