GBP/USD Daily Forecast - 8 May

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Tuesday, May 08 2018

GBP/USD Daily Forecast - 8 May

Dailyforex.com. I wrote yesterday that the price was likely to make a lower low, but as it turned out, the major round number at 1.3500 was not even reached again, and the short-term direction has now turned bullish. The Pound seems to be the most bullish of all the major currencies.

At the time of writing, the price is testing the resistance level at 1.3584 – it may reverse here after London has been open for an hour, and in that case, it could provide a short trade. However, if the price gets established above the level, it would be a short-term bullish sign signifying that the price would be likely to close up today.

More in this category: « EUR/USD Daily Forecast - 7 May AUD/USD Daily Forecast - 9 May »

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