GBPUSD Forecast:

The GBPUSD also made indecisive movement on Friday, formed a Doji on daily chart. The bias remains to the downside but like I said on Friday, 1.6100 – 1.6040 area is a potential strong support area. We are in critical technical phase now. Break below 1.6040 area should trigger further bearish momentum at least testing 1.6000 psychological level and potentially lead us into a new bearish phase with 1.5800 as potential bearish target in longer term. Immediate resistance at 1.6170 followed by 1.6250 area.


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