GBPUSD  Forecast

The GBPUSD was indecisive on Friday, made a Doji on daily chart. The bias is neutral in nearest term but as long as price stays below the trend line resistance and 1.6305 I still prefer a bearish scenario at this phase. Overall price still trapped in range area of 1.6305 – 1.6100 and need a clear break on either side to see clearer direction. Aggressive intraday traders may short around 1.6305 due to a good risk – reward ratio. A clear break above 1.6305 could be a threat to the current bearish outlook testing 1.6400 region. On the downside, a clear break below 1.6100 could continue the bearish pressure testing 1.6000 key support area.

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