GBPUSD  Forecast

The GBPUSD made another indecisive movement yesterday. There are no changes in my daily technical outlook and overall price still moving sideways between 1.6516 – 1.6305. Aggressive intraday traders can still short around 1.6516 or long around 1.6305 with tight stop loss. The H&S bearish scenario remains intact but would need a clear break below 1.6305 support area to continue the bearish scenario and lead price out of the range area targeting 1.6200 – 1.6170. On the upside a clear break above 1.6516 would cancel the H&S bearish scenario targeting 1.6600 – 1.6737 area. I still prefer to stand aside for now.

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