GBPUSD Forecast:

The GBPUSD had a moderate bearish momentum on Friday. On h1 chart below we can see that the pair is moving in moderate bearish channel, indicating potential downside pressure and price ready to test the trendline support. The bias is bearish neutral both in nearest and medium term and I prefer to stay out from the market for now. Immediate support at 1.6420 and the trendline support area. Break below that area should trigger further downside momentum towards 1.6350 area. Initial resistance at 1.6550/90 area.