GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.5899 but whipsawed to the upside, closed higher and slipped above 1.6000 key resistance area. On my 4 hour chart below we can see price has been moving strongly to the upside inside a bullish channel since the false breakdown below 1.5330 and as long as price moves inside the bullish channel and above 1.5850 my overall intraday bias remains to the upside. A clear break above 1.6000 could trigger further bullish pressure testing 1.6100 even 1.6200 region. Immediate support is seen around 1.5925. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and only a clear break and daily close below 1.5850 could be a threat to the current bullish intraday outlook.

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