GBPUSD  Forecast

The GBPUSD attempted to push higher last week, topped at 1.5772 but further bullish pressure was rejected, closed lower at 1.5586. Price has been moving sideways between 1.5778 – 1.5407 in the last four weeks and need a clear break from the range area to see clearer direction. The bias is neutral in nearest term. Immediate resistance is seen around 1.5650. A clear break above that area could trigger further bullish pressure retesting 1.5778 but only a clear break above the trend line resistance (white) and 1.5900 resistance area would turn my overall technical bias to a bullish mode. Immediate support is seen around 1.5580. A clear break below that area could trigger further bearish pressure testing 1.5500 and 1.5407 support area.

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