GBPUSD Forecast:

The GBPUSD was corrected higher yesterday, topped at 1.5745, closed at 1.5716 and now struggling around 1.5707 area. The bias is bullish in nearest term testing 1.5800 area, but we need a consistent move above 1.5707 to continue the bullish correction scenario. Immediate support at 1.5650. Break below that area should trigger further bearish momentum and could be seen as potential false breakout scenario which could trigger significant bearish momentum testing 1.5550 – 1.5500 support area. Break above 1.5800 should continue the bullish momentum towards 1.5900 area.