GBPUSD  Forecast

The GBPUSD has been trapped in range area of 1.5970 – 1.6115 since June 29. The bias is neutral in nearest term as direction remains unclear. On h4 chart below we can see the bullish channel since the rebound from double bottom around 1.5910 still hold so far, keep the bullish correction scenario intact especially if price able to make a clear break above 1.6115 testing 1.6200/60 resistance area. Immediate support is seen at 1.5970 followed by 1.5910.

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