GBPUSD  Forecast

The GBPUSD was volatile but indecisive yesterday. The bias is neutral in nearest term. As long as price stays inside the bullish channel as you can see on my h4 chart below, my overall intraday bias remains to the upside and I still prefer a bullish scenario at this phase testing 1.6200 area. Immediate support is seen around 1.6035 – 1.5970 area and the lower line of the bullish channel. A clear break below the bullish channel and a daily close back below 1.5970 would stop the bullish outlook and might signal a new bearish intraday view testing 1.5900 – 1.5850 support area.

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