GBPUSD  Forecast

The GBPUSD was corrected higher yesterday but 1.6000 resistance area still hold so far, keep my bearish intraday outlook intact. The bias is neutral in nearest term. As you can see on my hourly chart below price is still moving inside a minor bearish channel and only a violation to the bearish channel and clear break above 1.6000 can stop the current strong bearish intraday outlook testing 1.6070 – 1.6100 resistance area. A clear break back above 1.6100 could be a threat to my bearish outlook testing 1.6200 even higher.  Immediate support at 1.5950. A clear break below that area would change the intraday bias back to bearish testing 1.5900 and could open the door for further downside pressure testing 1.5820/00 region.

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