GBPUSD Forecast:

The GBPUSD attempted to push higher yesterday, topped at 1.6665 but the bullish momentum was limited as the pair closed lower at 1.6567. That was no surprise for me since 1.6660 is a key level resistance. On h1 chart below we can see that the bearish channel (red channel) has been violated to the downside and the pair is now making a new bullish channel (blue channel) so another bullish attempt re-testing 1.6660 area is expected as long as the bullish channel remains valid. Immediate support is seen at 1.6530. Break below that area could trigger further downside pressure back towards 1.6430 area.