GBPUSD Forecast:

The GBPUSD was able to maintain its bullish bias yesterday, topped at 1.5496 and closed at 1.5455 but traded lower around 1.5435 at the time I wrote this comment today. The bias is neutral in nearest term. Overall the pair still move in range area of 1.5520 – 1.5200 indicating consolidation after bullish run from 1.4779 but I still prefer a bullish scenario at this phase. However we need a clear break above 1.5520 to continue the bullish scenario targeting 1.5750 – 1.5800 area this week. Immediate support at 1.5370. Break below that area could trigger further downside pressure but as long as price stay above 1.5200 the bullish scenario remains intact.

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