GBPUSD Daily Forecast

The GBPUSD continued it’s bullish momentum yesterday, topped at 1.6466 and closed at 1.6420. The bias is bullish in nearest term but we seem to have a good resistance around 1.6470 area. Break above that area should trigger further upside momentum towards 1.6550 before re-testing 1.6660 key resistance level. However, from medium term perspective, only a clear break above 1.6660 could be seen as bullish scenario conformation. CCI about to cross the 100 line down on h4 chart suggesting potential downside rebound testing 1.6380 and 1.6300 area.