GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, bottom at 1.5705 but whipsawed to the upside and strongly broke above 1.5780 and the 200-daily-EMA, topped at 1.5881. The bias is bullish in nearest term testing 1.6000 region as a part of the bullish scenario since the breakout above the trend line resistance as you can see on my daily chart below. Immediate support is seen around 1.5780 (former resistance). A clear break back below that area could lead price to neutral zone in nearest term as direction would become unclear but as long as stays above 1.5700 I still prefer a bullish intraday scenario at this phase.

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