GBPUSD Daily Forecast: January 11
The GBPUSD failed to continued its bullish momentum yesterday. The bias is neutral in nearest term but overall price is still in a bullish correction phase triggered by the bullish pin bar as you can see on my daily chart below. Immediate resistance is seen around 1.2800. A clear break above that area would target 1.2875 region. Immediate support is seen around 1.2700. A clear break and daily/weekly close below that area would interrupt the bullish phase but only a break below 1.2400 would invalidate the bullish pin bar scenario and resume the major bearish trend.