GBPUSD Forecast

The GBPUSD continued its bearish momentum last week, closed at 1.5662 on Friday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.5600 – 1.5550/15 support area. Immediate resistance is seen around 1.5735. A clear break above that area could lead price to neutral zone in nearest term testing 1.5785. A clear break and daily close above 1.5785 will interrupt the current short term bearish outlook but as long as stays below 1.6000 I still prefer a bearish scenario.

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