GBPUSD  Forecast

The GBPUSD had a bullish momentum yesterday after unable to make a break below the triangle formation. The bias is bullish in nearest term especially if price able to make a clear break above 1.6250 testing 1.6305/50 but note that overall price is still in a consolidation phase and need a clear break from the triangle to see clearer direction. I personally still prefer a bearish scenario but I will stand aside for now. Immediate support at 1.6170. A clear break below that area could change the intraday bias back to bearish testing 1.6100 – 1.6000 strong support area.

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