GBPUSD Forecast:

The GBPUSD attempted to push higher yesterday, topped at 1.6412 but the bullish momentum was limited as the price closed lower at 1.6330. On h4 chart below we can see that the bearish channel (red) and the trendline (blue) has been violated to the upside indicating potential bearish scenario failure but the price retreated lower and now struggling around the trendline area and might attempt to move back inside the bearish channel. I think we are in no trading zone. Technically if the price able to stay above the trendline and stay outside the bearish channel, we could have a bullish view at least towards 1.6500 area but if the price back inside the bearish channel and move back below the trendline then the bearish scenario should remains intact re-testing 1.6110 support area. CCI just cross the 100 line down on h4 chart suggesting a potential downside pressure testing 1.6250 support area. Immediate resistance at 1.6412 (yesterday’s high). Eyes on US NFP and Unemployment rate data today that can be the market mover of the day.