GBPUSD  Forecast

The GBPUSD failed to continue its bullish intraday momentum yesterday and now still struggling around 1.5650 key support area. The bias is bearish in nearest term but would need a clear break and daily close below 1.5650 to continue the bearish scenario since the failure to break above 1.6000 key resistance area testing 1.5550 – 1.5500. Immediate resistance is seen around 1.5700 . A clear break above that area could lead price to neutral zone in nearest term testing 1.5750. Price is moving below the EMA 200 on hourly, h4 and daily chart suggests more bearish bias.

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