GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.5532 but whipsawed to the upside and closed higher at 1.5656. This fact keeps the nearest term bullish bias since the rejection to move consistently below 1.5270 support area remains strong. As you can see on my daily chart below price is now testing the trend line resistance (red) and 1.5650 – 1.5700 resistance area. A clear break and daily close above the trend line resistance could trigger further bullish scenario testing 1.5800 even 1.6000 region. Immediate support is seen around 1.5600. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.5500 my overall intraday bias remains to the upside.

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