GBPUSD  Forecast

The GBPUSD had a bullish momentum on Friday, topped at 1.6092 and closed at 1.6067 after bounced from 1.5875 key support area on Thursday. While my short term bias turns bullish now, as long as stays below 1.6165 my overall outlook remains sideways between 1.6165 – 1.5875 as you can see on my h4 chart below and need a clear break from the range area to see clearer direction. Immediate support is seen around 1.6000. A clear break below that area would lead price to a neutral zone in nearest term, testing 1.5900 – 1.5875 key support area and keep price in the sideways condition a little bit longer. On the upside, a clear break and daily close above 1.6165 could trigger further bullish scenario testing 1.6251 (September high) and 1.6399 (March high). On the downside, a clear break and daily close below 1.5875 could trigger further bearish scenario testing 1.5700 or lower.

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