GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, slipped below 1.5330 but whipsawed to the upside and closed higher at 1.5436 on broad US Dollar weakness after ECB rate decision and press conference. The bias is neutral in nearest term but a clear break above 1.5490 after the false breakdown below 1.5330 could trigger further bullish pressure testing 1.5650 – 1.5750 region. Immediate support is seen around 1.5425. A clear break below that area could trigger further minor bearish pressure testing 1.5370 but I still expect no further bearish momentum until we have a clear break and daily closed below 1.5330.  Fundamental focus today will be on US Non-Farm Payroll number.

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