GBPUSD Forecast:

The GBPUSD attempted to push lower yesterday, bottomed at 1.5768 but furher bearish momentum was rejected as the pair whipsawed to the upside and closed higher at 1.5878. After had significant bearish momentum since September 14 from 1.6684, yesterday’s upside correction is actually normal. As long as the pair stay below 1.6000, I still prefer a bearish scenario. Break above 1.6000 should trigger further bullish correction re-testing 1.6113 area. Immediate support at 1.5840 followed by 1.5768.