GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, topped at 1.5731 but further bullish momentum was rejected, closed lower at 1.5674. The bias is neutral in nearest term. As you can see on my daily chart below price slipped above the trend line resistance (red) suggests potential further bullish scenario. Next resistance area to be closely watched is around 1.5770/80. A clear break and daily close above that area would give further bullish confirmation testing 1.6000 area. Immediate support is seen around 1.5625. A clear break below that area could trigger further bearish pullback testing 1.5550 but as long as stays above 1.5000 the bullish outlook should remain intact after bounced from 1.5270 major support.

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