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GBPUSD Forex Analysis for May 27th 2019

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Intraday bias in GBP/USD remains on the up side for the moment in 15 minutes time frame. Price action is rising up and stepping higher and Forex traders could easily notice that market is printing higher swing highs and higher swing lows. Vital area for buyers is present at 1.2708; based on most recent swing low in fifteen minutes chart of GBPUSD.

No news came out on Friday for the GBP. Technically; bullish trend could take price action towards next resistance target at 1.2800. As the trend is still bullish, Forex traders should consider only long trades and no trade against the current GBPUSD bullish trend. However; a clear bearish break down in price action below 1.2708 vital support area will end the bullish momentum. Henceforth, currency traders may jump at the chance to stay out of the market and re-inspect the GBPUSD Spot Forex pair.

GBPUSD Forex Analysis



Source: https://fxinstructor.com/blog/gbpusd-forex-analysis-for-may-27th-2019

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