GBPUSD  Forecast

The GBPUSD continued its bullish momentum yesterday after broke above the bearish channel and hit 1.6446 earlier today in Asian session. The breakout above the bearish channel (which also can be seen as a bullish flag from another perspective) and the upper line of the range area gives us a bullish continuation scenario at least testing 1.6600 even 1.7000 in longer term outlook. The bias remains bullish in nearest term testing 1.6500. Immediate support at 1.6400. A clear break below that area would lead us to neutral zone in nearest term testing 1.6350 but overall I think the pressure remains strongly to the upside.

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