GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.4948 but closed significantly higher above 1.5000 area. The bias is neutral in nearest term but overall the bullish correction phase remains intact as downside pressure seems limited so far. I will pay attention to 1.5080 – 1.5100 resistance area today. Consistent move above that area could trigger further bullish pressure re-testing 1.5227. On the downside, another move below 1.5000 could trigger further bearish attempt testing 1.4900 – 1.4800 area.

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