GBPUSD Forecast

The GBPUSD was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term but as long as stays below 1.6000 I still prefer a bearish scenario at this phase with sell on rallies strategy as a part of the bearish scenario after broke below the trend line support. Immediate resistance remains around 1.5885. A clear break and daily close above that area could trigger further bullish pressure testing 1.6000 key resistance. Immediate support remains around 1.5780. A clear break below that area could trigger further bearish pressure retesting 1.5731 before testing 1.5650 support area.


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