GBPUSD  Forecast

The GBPUSD was volatile but indecisive yesterday. Price slipped above 1.6115 but further bullish pressure was rejected and hit 1.6031 earlier today in Asian session. I have made some adjustment to the bullish channel which is now being tested as you can see on my h4 chart below. A clear break below the bullish channel and 1.6000 support area could be a threat to the bullish correction outlook testing 1.5910. Overall we don’t see a good trending market since the upside rebound from 1.5910. On the upside, we need a clear break at least above 1.6100 to keep the bullish correction scenario remains intact still targeting 1.6200/60 area.

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