GBPUSD  Forecast

The GBPUSD was volatile but indecisive yesterday. On h4 chart below we can see price is moving in a triangle formation indicates consolidation but as long as price moves inside the bearish channel overall we are still in a bearish outlook.  The bias is neutral in nearest term. Immediate resistance at 1.5580. Break above that area could trigger further bullish pullback testing 1.5650 and the upper line of the triangle. On the downside, another strong movement below 1.5500 would keep the bearish scenario remains strong testing 1.5450 – 1.5400 before testing 1.5300 support area this week.

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