GBPUSD Forecast:

The GBPUSD made indecisive movement yesterday, formed a Doji on daily chart. On h4 chart below we can see that the pair still trapped between 38.2% – 50% Fibo retracement of 1.6113 – 1.6740. The bias remains neutral in nearest term and I think we are still in no trading zone now. Be patient and do not rush jump into the market. The key levels at this phase is 1.6400 support and 1.6580 resistance. Break below 1.6400 should trigger further bearish momentum towards 1.6200 while break above 1.6580 should trigger further bullish momentum re-testing 1.6740 area.