GBPUSD Forecast:

The GBPUSD had a bullish momentum on Friday. On h4 chart below we can see that the pair is able to stay outside the bearish channel and above the trendline support (blue) indicating potential upside scenario. The bias is bullish in nearest term but we seem to have a good resistance around the trendline resistance (yellow). Breakout above that trendline resistance should trigger further bullish momentum targeting 1.6500 – 1.6550 area. Immediate support at 1.6350. Break below that area should trigger further bearish momentum back towards 1.4250/35 area and could be a potential threat to the bullish scenario.