GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, topped at 1.6176 but the upper line of the bearish channel still hold so far, keep the major bearish scenario intact.  The bias remains neutral in nearest term but as long as price moves inside the bearish channel I still prefer a bearish scenario at this phase. The upper line of the bearish channel and 1.6192 resistance area seem to be a good place for a short position with a tight stop loss above the bearish channel. On the downside, immediate support is seen around 1.6060. A clear break below that area could trigger further bearish pressure testing 1.6000 and 1.5950 support area and keep the major bearish scenario remain strong.

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