GBPUSD  Forecast

The GBPUSD regained its bullish momentum yesterday, topped at 1.5962 and closed at 1.5955. The bias is bullish in nearest term testing 1.6000 but note that we still need a clear break and daily close above 1.6000 to continue the bullish scenario testing 1.6129/50 area. Immediate support is seen around 1.5925/00. A clear break below that area could trigger further bearish pullback testing 1.5850 region. Price is still trapped between 1.6000 – 1.5650 for more than two months now and need a clear break from the range area to see clearer direction.

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