GBPUSD  Forecast

The GBPUSD failed to continue its bullish momentum earlier today in Asian session and now testing the lower line of the bullish channel as you can see on my h4 chart below. As long as price stays inside the bullish channel my overall bullish outlook should remain intact but this fact is a serious threat to the bullish outlook as a clear break/daily close below the bullish channel and 1.5950 support area could turn the short term technical bias to a bearish view testing 1.5850 support area. Immediate resistance is seen around 1.6035. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish outlook remains strong, testing 1.6100 – 1.6150 resistance area.

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