GBPUSD Forecast:

The GBPUSD also gained yesterday after worse than expected US CPI numbers and rumor about ECB intervention paused the Dollar rally, topped at 1.4447 and closed at 1.4442. On h4 chart below we can see that the minor trendline resistance (red) did a good job preventing further upside momentum as the main scenario remains to the downside especially if price able to move consistently below 1.4370 testing 1.4240 area. On the other hand, break above the minor trendline resistance could trigger further bullish correction testing 1.4600/30 region.

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