GBPUSD Forecast:

The GBPUSD continued its bearish momentum yesterday, break below psychological level 1.6000, bottomed at 1.5920 and closed at 1.5958. Like I said yesterday, break below 1.6000 area should lead us to further bearish scenario at least targeting 1.5800 this week as the pair is now enter a new phase of bearish scenario. Immediate resistance at 1.6000 – 1.6050 area. Break above that area should lead us into no trading zone but long position is not recommended.

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