GBPUSD Forecast:

The GBPUSD attempted to push higher yesterday, topped at 1.5043 but whipsawed to the downside, bottomed at 1.4818 and closed at 1.4823. On h4 chart below we can see that price cross up and down the major trendline support in a high volatile market indicating unclear direction and intense battle between buyer and seller around the trendline area. The bias is neutral in nearest term. Immediate resistance at 1.4900. Break above that area could trigger further bullish momentum testing 1.5000 – 1.5050 region. Initial support at 1.4750. Break below that area could trigger further bearish pressure testing 1.4680 before re-testing 1.4500 area.

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