GBPUSD Forecast:

The GBPUSD attempted to push lower yesterday, slipped below my minor trenline support (aqua) but failed to continue bearish momentum as price whipsawed to the upside, break above my minor trendline resistance (blue) and now struggling around that trendline. The bias is neutral in nearest term as price can not stay consistently above the trendline resistance so far, thus still vulnerable to make another false breakout which trigger another bearish pressure, especially if price fall below 1.6550 support area today re-testing 1.6400 area. On the upside, my major trendline resistance (red) is also a potential resistance to be tested after we saw significant bullish momentum yesterday. Break above that trendline resistance should be seen as bearish failure which could be a new bullish phase for Sterling at least towards 1.6842 area. Immediate resistance at 1.6670. Break above that level should trigger further bullish momentum and could be a serious threat to the bearish scenario.