GBPUSD  Forecast

The GBPUSD attempted to push higher last week, topped at 1.5668 but whipsawed to the downside and closed lower at 1.5415 on broad US Dollar strength. The bias is bearish in nearest term but note that we need a clear break and daily close below 1.5400 to lead price out from the sideways/consolidation condition in the last seven weeks. Below 1.5400, the nearest bearish target is seen around 1.5330 – 1.5270. Immediate resistance is seen around 1.5450. A clear break back above that area could lead price in neutral zone in nearest term testing 1.5500/50 region. The EMA 200 is moving above the price on hourly to monthly chart suggest a bearish view.

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