GBPUSD Forecast

The GBPUSD had a bearish momentum yesterday. On h4 chart below we can see that this time the rising wedge formation has violated to the downside suggests a potential bearish view in nearest term but remains unclear in medium term. We have good support around 1.6380 area. Only a clear break below that area should trigger further bearish momentum towards 1.6300 – 1.6250 area. Immediate resistance at 1.6450 – 1.6490 area. Break above that area should trigger further bullish momentum.