GBPUSD Daily Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.6232 but closed higher at 1.6366. On h4 chart below we can see that the pair is trapped in rectangle area indicating consolidation phase. We are still in no trading zone since we have no clear direction yet. Immediate resistance is seen at 1.6400/50 area. Initial support at 1.6200. CCI in neutral area both on h4 and daily chart. Be patient.