GBPUSD Daily Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.6208 but further bearish momentum was rejected as the pair whipsawed to the upside, topped at 1.6471 and closed at 1.6450. On h4 chart below we can see that this was the case of a false triangle breakdown. The bias is bullish in nearest term testing 1.6505/59 area but remains neutral in medium term. CCI just cross the 100 line down on h1 chart so watch out for potential downside rebound testing 1.6350 support area. Break below that area should lead us into no trading zone.