GBPUSD  Forecast

The GBPUSD was volatile but indecisive yesterday made a Doji on daily chart. Price slipped below 1.5650, hit 1.5601 and now still struggling around 1.5650. The bias is neutral in nearest term probably with more bullish bias after bounce from oversold area on hourly chart. Immediate resistance is seen around 1.5680 – 1.5700. A clear break above that area could trigger further bullish pressure testing 1.5750 and keep price in range area a little bit longer. On the downside, we need a clear break and daily close below 1.5600 to confirm the bearish scenario testing 1.5500 area even lower.

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