GBPUSD  Forecast

The GBPUSD was volatile but indecisive yesterday. Price attempted to push lower, broke below 1.6000, bottomed at 1.5937 but further bearish pressure was rejected and closed higher above 1.6000. The bias is neutral in nearest term. I still prefer a bearish scenario at this phase but a clear break back above 1.6070 could trigger further bullish pullback testing 1.6150. We have a hammer candlestick formation on daily chart suggests potential bullish pullback and bearish exhaustion.

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