GBPUSD Forecast

The GBPUSD was indecisive yesterday. Price is still in a bullish correction phase after bounced from a major support around 1.5270 but overall I remain bearish and still prefer to sell on rallies. The bias is neutral in nearest term. Immediate resistance is seen around 1.5500. I don’t expect any consistent movement above that area as the current bearish trend will be interrupted. On the downside, we need a clear break and daily close at least back below 1.5320 to end the correction phase and continue the major bearish scenario retesting 1.5270 or 1.5200 key support area.

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