GBPUSD  Forecast

The GBPUSD slipped above 1.6170 yesterday, but whipsawed to the downside, bottomed at 1.6089 and traded higher earlier today in Asian session hit 1.6142 in a volatile market without consistent momentum. The bias is neutral in nearest term and still within a context of major bullish outlook. On h1 chart below we can see price is moving in a range area between 1.6170 – 1.6090 and need a clear break on either side to see clearer intraday direction. A clear break above 1.6170 could trigger further upside pressure re-testing 1.6300 while a clear break below 1.6090 could trigger further bearish pressure re-testing 1.6000 key support area. A clear break below 1.6000 could be a serious threat to the major bullish outlook.

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