GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, topped at 1.6570 but closed lower at 1.6493. The bias is neutral in nearest term. On h4 chart below we can see price has been trapped in range area of 1.6615 – 1.6420 since August 18. I still prefer a bullish intraday scenario at this phase as long as price stays inside the bullish channel but would need a clear break above 1.6615 to continue the bullish scenario testing 1.6745 region. On the downside, a clear break below 1.6420 could trigger further downside pullback testing 1.6310 and the lower line of the bullish channel.

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