GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.5560 but closed higher at 1.5601. The bias remains neutral in nearest term. I still prefer a bearish scenario at this phase but need a clear break and daily close below 1.5600 (23.6% Fibonacci retracement of 1.6165 – 1.5422) to continue the major bearish scenario at least testing 1.5520 – 1.5422 area. Immediate resistance is seen around 1.5635. A clear break above that area could trigger further upside pullback testing 1.5700/15 but I still prefer to short on rallies at this phase.

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