GBPUSD  Forecast

The GBPUSD made another volatile but indecisive movement yesterday. After the violation to the bullish channel I still prefer a bearish intraday outlook but note that overall price is still in a sideways condition with no clear direction and momentum. There are no changes in my daily outlook. Aggressive intraday traders can still take the advantage from this sideways condition by long around 1.5970/10  or short around 1.6115/39 with tight stop loss. A clear break above 1.6115/39 could trigger further bullish pressure testing 1.6200/60 while a clear break and daily close below 1.5910 could continue the bearish pressure testing 1.5800 region even lower.

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