GBPUSD Forecast:

The GBPUSD had a significant bearish momentum on Friday as price violated the trendline support, fell below 1.6000, bottomed and closed at 1.5982. This fact should trigger further bearish bearish momentum targeting 1.5800 this week.  However CCI in oversold area and about to cross the -100 line up on h1 chart suggesting potential upside rebound testing 1.6000/40 resistance area. Break above that area could trigger further bullish pullback towards 1.6105 and lead us into no trading zone as direction would become unclear.