GBPUSD Forecast:

The GBPUSD attempted to push lower yesterday after break below the range area (of 1.5520 – 1.5200), bottomed at 1.5125 but closed higher at 1.5208. The pair is in transition phase where bullish outlook is in serious threat and bearish bias seems ready to take control. Earlier today in Asian session price keep moving lower below 1.5200 indicating the downside pressure is still there. Immediate support at 1.5135/28 area. Break below that area should trigger further bearish pressure testing 1.5060 – 1.5000 region. On the upside, consistent move above 1.5200 should lead us into a no trading zone as direction would become unclear.

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