GBPUSD Forecast:

The GBPUSD continued its bullish momentum yesterday, topped at 1.5297 and closed at 1.5288. The bias remains to the upside as my technical bullish reversal outlook is confirmed. However the pair has been moving in upside direction for five consecutive days now so any downside correction should not be a surprise. Immediate support at 1.5225/00 region. Break below that area could trigger further downside correction testing 1.5135/00 area. Initial resistance at 1.5380, which is nearest upside target at this phase. Fundamental focus today will be on US NFP. A good result may support the Dollar and trigger downside momentum while a bad result should continue the bullish scenario.

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