GBPUSD Forecast:

The GBPUSD failed to continue its bullish momentum yesterday, bottomed at 1.5215 and closed at 1.5244 after unable to consistently move above 1.5350 area. This fact could trigger further bearish pressure but we need a consistent move below 1.5200 – 1.5185 psychological support area to confirm further bearish scenario targeting 1.5000/50 area. Immediate resistance at 1.5300. Break above that area should keep the bullish scenario after violation to the major bearish channel intact but again, we need a consistent move above 1.5350 to continue the bullish scenario targeting 1.5530 area.