GBPUSD Forecast:

The GBPUSD attempted to push lower yesterday, bottomed at 1.5857 bit whipsawed to the upside, topped at 1.5971 and closed at 1.5954. The volatile but indecisive market since last week indicating a consolidation reflected in the triangle formation as you can see in my h4 chart below. I still prefer a bearish scenario but it’s easy to see that the bearish pressure is  starting to lose some momentum and we need a break from the triangle to see a clearer direction. The bias is bullish in nearest term as price might attempted to breakout the triangle. If that happen, expect further bullish momentum retesting 1.6113 area. Immediate support at 1.5857 (yesterday’s low).