GBPUSD  Forecast

The GBPUSD was indecisive last week. As you can see on my hourly chart below price is moving sideways inside a rectangle formation suggests consolidation phase and need a clear break from the range area to see clearer direction. I still prefer a bearish scenario at this phase but need a clear break and daily close below 1.5555 to continue the bearish scenario testing 1.5422 area. On the upside, a clear break and daily close above the range area and 1.5800 would turn my intraday bias to a bullish view testing 1.5950 – 1.6000 area.

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