GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, but found a good resistance around 1.5850, closed lower at 1.5770 and hit 1.5727 earlier today in Asian session. The bias is neutral in nearest term and price still trapped in range area of 1.5850 – 1.5650 as you can see on my hourly chart below. We have a triple top bearish formation around 1.5850 region which would be validated by a clear break below 1.5650 at least targeting 1.5550 – 1.5500 area. Overall price is still in a bullish phase since the strong bullish momentum after the false breakdown below 1.5330 but only a clear break and daily close above 1.5850 could continue the bullish scenario testing 1.5915 and 1.6000 as the triple top bearish warning will no longer valid.

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