GBPUSD  Forecast

The GBPUSD continued its bullish momentum yesterday, topped at 1.5913 but corrected lower earlier today hit 1.5865. The bias is neutral in nearest term. Immediate support is seen around 1.5850. A clear break below that area could trigger further bearish pressure testing 1.5800 – 1.5750 support area. On the upside, a clear break above 1.5913 could trigger another bullish pressure testing 1.6000 key resistance area. Overall price is still trapped in range area between 1.6000 – 1.5650 and need a clear break from the range area to see clearer direction.

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