GBPUSD  Forecast

The GBPUSD failed to continue its bullish momentum yesterday bottomed at 1.5729 and closed at 1.5744. There were some upside pressures earlier today in Asian session hit 1.5820. This fact keeps the bullish scenario intact, but as you can see on my hourly chart below we have a double top formation around 1.5850 and need a clear break above that area to continue the bullish scenario targeting 1.5915 even 1.6000 area. Immediate support is seen around 1.5770. A clear break below that area could trigger further bearish pressure testing 1.5730 but only a clear break and daily close below 1.5650 could be a threat to the current bullish outlook and give further confirmation to the double top bearish scenario testing 1.5500 even 1.5330.

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