GBPUSD Forecast:

The GBPUSD attempted to push lower yesterday, bottomed at 1.5497 but made a temporary fast bullish momentum yesterday, topped at 1.5686 after the MPC meeting before whipsawed to the downside, hit 1.5549 earlier today in Asian market. This fact could trigger further downside pressure for the Cable even potentially trigger a technical bearish reversal outlook especially if price able to move consistently below 1.5550/30 area targeting 1.5450 – 1.5380 area. Immediate resistance at 1.5700. Price need to move above that area if we want to see further recovery towards 1.5800 region and keep the bullish scenario intact.

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