GBPUSD Forecast:

The GBPUSD failed to continue its bearish momentum yesterday, topped and closed at 1.5107. The main outlook remains bearish but we know that the major trendline support provides a good support area at this phase and we need a clear break below that trendline to continue further bearish momentum targeting 1.4500 this week. Immediate resistance at 1.5150. Break above that area could trigger further upside momentum testing 1.5255 even re-testing 1.5350/80 area. Initial support at 1.5050. Break below that area could trigger further bearish momentum re-testing 1.4930 – 1.4873 support area.