GBPUSD Forecast:

The GBPUSD was also indecisive yesterday, attempted to push lower, bottomed at 1.6599 but further downside pressure was rejected as the pair closed higher at 1.6735. The bias is neutral in nearest term but we have a nice bullish channel on daily chart below indicating a bullish scenario with technical target 1.7042 remains intact. Immediate support at 1.6680. Break below that area should trigger further downside pressure re-testing 1.6599 area. Initial resistance at 1.6842. Break above that area should lead us to further bullish momentum towards 1.7042 area.