GBPUSD Daily Forecast

The GBPUSD attempted to push higher yesterday, topped at 1.6741 but further bullish scenario was rejected as the pair whipsawed to the downside, bottomed at 1.6422 and closed at 1.6456. On h4 chart below we can see that this was a case of false breakout from the key resistance level 1.6660 and now price seems to be ready to test the trendline support. The bias is bearish in nearest term testing 1.6350 support area but remains neutral in medium term. Immediate resistance is seen at 1.6540. CCI just cross the 100 line down on daily chart suggesting potential downside pressure.