GBPUSD Daily Forecast

The GBPUSD also had a moderate bearish momentum yesterday. The pair break below 1.6100, bottomed at 1.5982 but closed higher at 1.6053. The bias is neutral in nearest term but as long as the pair stay below 1.6100 I still prefer a downside scenario testing 1.5800 area. Immediate support at 1.5950. Break below that area should trigger further bearish momentum. CCI in oversold area and about to cross the -100 line up on h4 chart suggesting a potential upside rebound. Break above 1.6100 should lead us into no trading zone.