GBPUSD  Forecast

The GBPUSD failed to continue its bullish momentum yesterday and now testing the lower part of the range area around 1.5875/67 as you can see on my h4 chart below. The bias is bearish in nearest term especially if price able to make a clear break below 1.5875/67 testing 1.5700. Aggressive intraday traders may long around 1.5875/67 due to a good risk –reward ratio with a tight stop loss below 1.5875/67. Immediate resistance is seen around 1.5930. A clear break above that area would lead price to neutral zone in nearest term and keep price in the sideways outlook between 1.6165 – 1.5875/67 a little bit longer testing 1.6000 and higher.

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