GBPUSD Forecast

The GBPUSD continued its bearish momentum yesterday, bottomed at 1.5674 and closed at 1.5678. The bias remains bearish in nearest term testing 1.5650. A clear break below that area could trigger further bearish pressure testing 1.5600 – 1.5550 area as a part of the bearish scenario after broke below the trend line support and movement below daily EMA 200. Immediate resistance is seen around 1.5735. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.5850 I still prefer to sell on rallies.

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