GBPUSD Daily Forecast

The GBPUSD had a bullish momentum on Friday. The pair topped at 1.6557 and closed at 1.6523. The bias is bullish in nearest term and we might see further upside pressure re-testing 1.6660 area. However, as you can see in h4 chart below, actually the pair still trapped in ranging area without a clear direction in medium term. So I think It’s still not the best time to trade. Immediate support is seen at 1.6430 followed by 1.6350. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.