GBPUSD  Forecast

The GBPUSD had a bearish momentum yesterday, broke below 1.6400 – 1.6370 support area and hit 1.6323 earlier today in Asian session. This fact keeps the H&S bearish scenario intact especially if price able to make a clear break below 1.6305 testing 1.6200 – 1.6170 area. Immediate resistance at 1.6400 – 1.6370 (former support). A clear break above that area would lead us to neutral zone in nearest term testing 1.6459 but only a clear break above 1.6494 – 1.6516 could cancel the H&S bearish scenario targeting 1.6600 – 1.6737.

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