GBPUSD Forecast:

The GBPUSD attempted to push higher yesterday after rejection to move below the trendline support, topped at 1.4606 but closed lower at 1.4527. The bias is neutral in nearest term. On h4 chart below we can see that the upper line of the bearish channel still hold, prevent further upside movement, keep the major bearish scenario intact. However, if price violate the bearish channel, the bearish scenario could be in a serious threat. Immediate resistance at 1.4606 (yesterday’s high). Consistent move above that area could trigger further bullish correction towards 1.4700 region. On the downside. We need a clear break below the trendline support to continue the bearish scenario testing 1.4240 region this week.

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