GBPUSD Forecast:

The GBPUSD also had a significant bearish momentum yesterday, fell below 1.5800 and keep moving lower earlier today in Asian session, traded around 1.5730 at the time I wrote this comment. This fact should trigger further bearish scenario targeting 1.5500 – 1.5550 area in nearest term before testing 1.5250 region in longer term. Immediate resistance at 1.5800 area. Break above that area should lead us into no trading zone in nearest term but overall I prefer a bearish scenario with sell on rallies strategy at this phase.

On fundamental side, we will have US NFP data today, which is expected at 10K. If the actual number is at least the same or even better than expected, the Sterling should keep under heavy pressure. On the other hand, a worse than expected result may give some support to the Sterling but overall the Dollar should still has the advantage as risk aversion seems to increase as stocks and gold are heading lower while Greenback strengthen.