GBPUSD Forecast:

The GBPUSD failed to continue its bullish momentum yesterday. Price attempted to push higher, topped at 1.6456 but whipsawed to the downside and closed lower at 1.6358. This fact potentially produce a false breakout scenario which could trigger significant bearish momentum especially if price move back below the trendline, at least testing 1.4250 area before aim for 1.6040. Immediate resistance at 1.6400 area. Break above that area should keep the bullish scenario towards 1.6700 intact.