GBPUSD Forecast:

The GBPUSD had a bullish momentum yesterday. On h4 chart below we can see that the triangle has been violated to the upside indicating potential bullish view. Price now traded lower after topped at 1.6120, around 1.6057 at the time I wrote this comment. As long as the pair able to stay above 1.6000, the nearest bias remains bullish and break above 1.6120 area should trigger further bullish momentum testing 1.6265 area. However break below 1.6000 and a movement back into the triangle should be seen as  the bullish scenario failure and could give a chance for the bearish pressure to regain it’s momentum. So I will be watching any reactions around 1.6000 area today before make any decision.