GBPUSD  Forecast

The GBPUSD also had a significant bearish momentum yesterday, convincingly broke below the bullish channel as you can see on my h4 chart below and hit 1.6038. The intraday bias remains strongly bearish especially if price able to make another strong break below 1.6030 targeting 1.5950 key support area. However my medium outlook remains sideways for this pair and only a clear break below 1.5950 would change my medium technical bias to bearish. Immediate resistance at 1.6120/50. A clear break above that area would pause the bearish bias but unless we have a clear break above 1.6300 the major bullish continuation scenario can not be confirmed.

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