GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, but whipsawed to the downside and closed lower at 1.5665 after unable to make a break above 1.5778 – 1.5800 resistance area. This fact turns my nearest term bias to a neutral zone. From a h4 chart perspective as you can see on my h4 chart below price is moving sideways in a wide range area between 1.5778 – 1.5407. On the upside, we need a clear break above 1.5778 and the trend line resistance (white, around 1.5900) to turn my overall technical bias to a bullish mode. Immediate support is seen around 1.5600. A clear break and daily close below that area would turn my nearest term bias to a bearish mode testing 1.5407 support area.

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