GBPUSD  Forecast

The GBPUSD attempted to push higher last week but whipsawed to the downside and now testing 1.5800 support area after failed to break above 1.6000. This fact keeps the false breakout bearish scenario intact especially if price able to make a clear break and daily close below 1.5800 testing 1.5700 – 1.5650 support area. The bias is bearish in nearest term. Immediate resistance is seen around 1.5900. A clear break above that area could lead price to neutral zone in nearest term and could open the door for another bullish pressure retesting 1.6000 key resistance.

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