GBPUSD Forecast:

The GBPUSD had a huge bearish momentum on Friday, bottomed at 1.4503 but traded higher around 1.4589 at the time I wrote this comment. The bias is neutral in nearest term but the main scenario remains to the downside both in medium and long term. Immediate resistance at 1.4650. Break above that area could trigger further upside momentum re-testing 1.4769 and the trendline resistance area. On the other hand, consistent move below 1.4500 area could trigger further downside pressure testing the trendline support area and and 1.4400 region which could be a serious threat to the upside correction scenario.

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