GBPUSD  Forecast

The GBPUSD continued its bullish momentum yesterday, topped at 1.6076 and closed at 1.6057. Although the bullish momentum was not as strong as I had expected, nearest term bias remains bullish still testing 1.6100 – 1.6150. Note that we have four consecutive bullish daily candles since Monday so watch out for a potential bearish pullback. Immediate support is seen around 1.6000 – 1.5980 area. A clear break below that area could lead price to neutral zone in nearest term testing 1.5900.

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