GBPUSD Forecast:

The GBPUSD attempted to push higher yesterday, slipped above my minor trendline resistance (blue), topped at 1.6591 but failed to continue bullish momentum and significantly fell to the downside, bottomed at 1.6379 and closed at 1.6444. Technically speaking, we have another example how a false breakout trigger a significant bearish momentum, but price found support at minor trendline support (aqua). The bias is neutral in nearest term, but if price break below the minor trendline support (aqua) and 1.6400 area, expect further bearish momentum targeting 1.6250. On the upside, 1.6600 – 1.6670 and major trendline resistance (red) remains key resistance area at this phase. As long price move below that area, I still prefer a bearish scenario.