GBPUSD  Forecast

The GBPUSD didn’t make significant movement yesterday. There are no changes in my technical outlook. Price is still in a sideways/consolidation condition in the last seven weeks with no convincing bearish or bullish weekly candle stick formation. The bias remains neutral in nearest term. Overall EMA 200 indicator still suggests a bearish outlook but need a clear break and daily close below 1.5400 support area to continue the bearish scenario testing 1.5330 – 1.5270. Immediate resistance remains around 1.5500/50. A clear break above that area could trigger further bullish pressure testing 1.5600/68 but only a movement above 1.5778 and the trend line resistance (white) would activate my bullish intraday mode.

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