GBPUSD Forecast:

The GBPUSD continued its bearish momentum on Friday, bottomed at 1.6076 and closed at 1.6111. This fact should keep my bearish scenario intact, especially if price able to break below 1.6040/00 psychological area, targeting 1.5800. CCI in oversold area and heading up on h4 chart so watch out for potential upside correction testing 1.6180 – 1.6200 resistance area. I prefer a bearish scenario and sell on rallies strategy. Only a break above the trendline resistance area should be seen as bearish failure testing 1.6430 area.