GBPUSD Forecast:

The GBPUSD was volatile but indecisive yesterday. Price attempted to push lower but found good support around the trendline support as you can see on my h4 chart below. The bias is neutral in nearest term but the main scenario remains to the downside and I am expecting another attempt on the trendline support today. We need a consistent move below the trendline support to continue the bearish scenario testing 1.4240 region. A failure to do so and a consistent move above 1.4550 region could trigger further upside recovery testing 1.4600 – 1.4700 region.

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