GBPUSD Forecast:

The GBPUSD attempted to push lower yesterday, bottomed at 1.5849 but closed significantly higher at 1.5955. The bearish scenario should remains intact but I think the bias is neutral in nearest term as downside pressure seems limited now. Key resistance level at 1.6000/40 area. Break above that area should be seen as potential threat to the bearish outlook. Immediate support at 1.5900 area. Break below that area should trigger further bearish pressure testing 1.5800 area.