GBPUSD Forecast:

My bearish scenario failed yesterday as GBPUSD had a significant bullish momentum, traded convincingly above the bearish channel, topped at 1.6603 and closed at 1.6560. This fact should trigger further upside momentum at least testing 1.6692 area today. However CCI in overbought area and heading down on h4 chart so watch out for potential downside rebound testing 1.6520 support area. Break below that area should lead us into no trading zone as price might retreat lower towards the upper line of the bearish channel.