GBPUSD Forecast:

The GBPUSD had a bearish momentum yesterday, bottomed at 1.5571 and closed at 1.5592. This fact should keep the bearish scenario intact, but as you can see on my h4 chart below, we seem to have a good support around 1.5560/30 area as price rebound higher after touched that level in the last 4 days. We need a clear break below that area to continue further bearish momentum targeting 1.5375 even 1.5250 in longer term. I am expecting a rage area of 1.5800 – 1.5560 area. Break on either side should give us a clearer direction.