GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, slipped below 1.5550 but unable to stay consistently below that area so far and still trapped in the range area as you can see on my hourly chart below. The bias remains neutral in nearest term. I still prefer a bearish scenario at this phase but would need a clear break and daily close below 1.5550 to continue the bearish scenario testing 1.5422 area. Immediate resistance is seen around 1.5620/50. A clear break above that area could trigger further bullish pullback but we need a clear break above the range area and 1.5800 to change the intraday bias to a bullish mode testing 1.5950 – 1.6000.

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