GBPUSD Daily Forecast

The Sterling attempted to fight back against Greenback yesterday. The pair made a false breakdown below 1.6240, bottomed at 1.6212 but whipsawed to the upside, topped at 1.6505 and closed lower at 1.6407. For me this fact show unclear direction in nearest term and I think it’s better to stay away from the market now and wait for further development.  Expect ranging area between 1.6505 – 1.6240.