GBPUSD Forecast:

The GBPUSD made a significant downside correction yesterday, slipped below 1.6520 support area, bottomed at 1.6486 before whipsawed to the upside and closed higher at 1.6616. We might complete the downside correction at this phase and I am expecting bullish continuation today targeting at least 1.6740 area before aim for 1.7042. Immediate support at 1.6575. Break below that area should lead us into no trading zone as price might entering consolidation phase but I still prefer a bullish scenario and short position is not recommended.