GBPUSD Forecast:

The GBPUSD had a bearish momentum yesterday, bottomed at 1.6713 and closed at 1.6740. On h4 chart below we can see that price is now testing the lower line of the bullish channel indicating critical technical point. The bias is bearish in nearest term but we need a consistent move below the bullish channel and 1.6692 area to confirm bearish scenario targeting 1.6600 and 1.6570 area. Immediate resistance at 1.6770/80 area. Break above that area should trigger further bullish momentum testing 1.6842 and keep the bullish scenario intact.