GBPUSD Forecast:

The GBPUSD made another volatile but indecisive movement yesterday. On h4 chart below we can see that once again, price slipped above 1.6000, topped at 1.6047 but whipsawed to the downside, bottomed at 1.5875 and closed at 1.5915. The bias is bearish in nearest term  but we need consistent move below 1.5905 for a bearish continuation confirmation re-testing 1.5808 area. Immediate resistance at 1.5950 – 1.6000 area. Break above that area could trigger further bullish momentum but long position is not recommended at this phase.