GBPUSD Forecast

The GBPUSD was volatile but indecisive yesterday. Price attempted to push higher, topped at 1.5599 but closed lower at 1.5520 and hit 1.5481 earlier today. The bias is neutral in nearest term. Immediate resistance is seen around 1.5535. A clear break above that area could trigger further bullish pressure testing 1.5600 – 1.5650. On the downside, we need a clear break and daily close below 1.5400 to end the bullish correction phase and continue the major bearish scenario retesting 1.5320 – 1.5270 key support area or lower.

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