GBPUSD  Forecast

The GBPUSD attempted to push lower last week, slipped below 1.5650 but further bearish pressure was rejected and whipsawed to the upside and hit 1.5877 earlier today. This fact keeps the bullish scenario since the breakout above the trend line resistance remains strong still testing 1.5900 – 1.6000 area. Immediate support is seen around 1.5800. A clear break below that area could lead price to neural zone in nearest term but any downside pullback is normal and as long as stays above 1.5650 I still prefer a bullish intraday scenario at this phase.

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