GBPUSD Forecast:

My technical strategy to short near the trendline resistance worked perfectly on Friday as price had a bearish momentum, bottomed at 1.6213 and closed at 1.6257. Although the current bias is more to the downside, I think the bearish scenario is not confirmed yet, not until we have a convincing movement below 1.6250 area, targeting 1.6040 area. The trendline resistance area remains a good place for a short position with tight stop loss above it. Immediate resistance at 1.6330. Break above that area should trigger further bullish momentum and keep the bullish scenario intact.