GBPUSD Daily Forecast

Similar to EURUSD, the GBPUSD also had indecisive movement last week. The pair attempted to push higher on Friday, topped at 1.6559 but we have not seen convincing upside movement yet as the pair now traded below 1.6505 area. However we still have valid minor bullish channel on h1 chart. As long as the channel holds, expect further upside pressure in nearest term. Break above 1.6559 should trigger further bullish pressure testing 1.6660. Immediate support is seen at 1.6420. Break below that area or violation to the downside of the bullish channel should trigger further bearish pressure testing 1.6315 support area. CCI just cross the 100 line down on h1 chart suggesting a potential downside pressure.