GBPUSD Forecast:

The GBPUSD had a volatile but indecisive movement yesterday. Price attempted to push lower, bottomed at 1.6165 but closed higher at 1.6285. The bias is neutral in nearest term but as long as price stay below 1.6400 I still prefer a bearish scenario testing 1.6113 support area as potential downside target after breakdown below the trendline support on Tuesday. Only break above 1.6400 could be seen as potential threat to the bearish scenario which could trigger further bullish momentum back towards 1.6600 area.