GBPUSD  Forecast

The GBPUSD continued its bearish intraday bias yesterday and now testing 1.5700 support area. The bias is bearish in nearest term testing 1.5650 region. Price is in critical technical phase now. As long as moves above 1.5700, it is too early to activate my bearish intraday mode. In fact, from a broader outlook, 1.5700 – 1.5650 support area is a good place for a long position as a part of the bullish scenario since bounced from 1.5270 and the break above the trend line resistance as you can see on my daily chart below targeting 1.5900 – 1.6000, with a tight stop loss. A clear break below 1.5700 – 1.5650 area would turn my medium bias to a neutral zone but activate my bearish intraday mode at least testing 1.5500 area.

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