GBPUSD  Forecast

The GBPUSD bearish momentum was stopped yesterday after unable to make a clear break below 1.5650 support area, closed at 1.5741. This fact keeps the bullish scenario since the breakout above the trend line resistance remains intact. The bias is bullish in nearest term testing 1.5800. A clear break and daily close above that area could trigger further bullish scenario testing 1.5900 – 1.6000. Immediate support is seen around 1.5700 followed by 1.5650. A clear break and daily close below 1.5650 would be a threat to the bullish scenario.

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