GBPUSD Forecast:

The GBPUSD had a significant bullish momentum yesterday. On h4 chart below we can see that the pair break convincingly above the trendline resistance (yellow, now become support), topped at 1.6586 but closed lower at 1.6500. The new bullish channel (blue) indicating a bullish scenario. The bias is bullish in nearest term targeting 1.6640 area. However CCI in overbought area and heading down on h4 chart so watch out for potential downside pullback testing 1.6480/30 area. Break below that area should lead us into no trading zone.