GBPUSD Forecast:

The GBPUSD had a bearish momentum yesterday, bottomed at 1.6391 and closed at 1.6412. On h4 chart below we can see that the triangle formation has been violated to the downside indicating a bearish view. The bias is bearish in nearest term targeting 1.6270 area. CCI just cross the -100 line up on h1 chart so watch out for potential upside rebound testing 1.6490 and 1.6540 area.

Today we will have US Consumer Confidence data which expected to rise at 48.0 from 46.6 last month. A worse than expected numbers should support my bearish view, while a better than expected numbers might give support to the Sterling as risk appetite may rise.