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GBPUSD  Forecast
The GBPUSD was indecisive yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term but note that the major bullish scenario should remain intact and I still prefer to buy around 1.6000 – 1.6050 with tight stop loss below 1.6000. Immediate resistance is seen around 1.6122 (yesterday’s high). A clear break and daily close above that area could lead price to neutral zone in nearest term. Price is still in a bearish correction phase since fell from 1.6300 and need a clear break and daily close at least back above 1.6200 to end the current bearish correction phase.

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GBPUSD  Forecast
The GBPUSD attempted to push higher last week, topped at 1.6197 but whipsawed to the downside, closed lower at 1.6065 and hit 1.6052 earlier today. The bias remains bearish in nearest term as a part of the bearish correction scenario since fell from 1.6300 testing 1.6050 – 1.6000 support area. However note that the major bullish scenario should remain intact and only a clear break and daily close below 1.6000 and the trend line support (blue) could create further bearish scenario. 1.6000 – 1.6050 remains a good place to buy with tight stop loss below 1.6000. Immediate resistance is seen around 1.6100. A clear break above that area could lead price to neutral zone in nearest term and I think we need a clear break at least back above 1.6200 to potentially end the current bearish correction phase.

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GBPUSD  Forecast
The GBPUSD had a bullish momentum yesterday, topped at 1.6197 and closed at 1.6188. The bias is bullish in nearest term but note that as long as stays below 1.6250, price is still in a bearish correction phase testing 1.6100 – 1.6000 support area. Immediate support is seen around 1.6150. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish correction phase remains strong. On the upside, a clear break above 1.6200 could trigger further bullish pressure testing 1.6250.

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GBPUSD  Forecast
The GBPUSD was corrected lower last week and hit 1.6113 earlier today. The bias is bearish in nearest term and price is now in a bearish correction phase testing 1.6000 support area. Immediate resistance is seen around 1.6150. A clear break above that area could lead price to neutral zone in nearest term but only a clear break and daily close back above 1.6250 could end the current bearish correction phase.

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GBPUSD  Forecast
The GBPUSD was corrected lower yesterday, bottomed at 1.6220 and closed at 1.6228. Price has been moving strongly to the upside since bounce from 1.5817 two weeks ago so any downside pullback is normal but overall I remain bullish on this pair and still prefer to buy on dips. Immediate support is seen around 1.6150. A clear break below that area would activate my wait and see mode and turn my short term technical bias to a bearish view. CCI is moving lower on daily chart suggest potential bearish pullback and bullish exhaustion. Immediate resistance is seen around 1.6250 followed by 1.6300. A clear break and daily close above 1.6300 could continue the bullish scenario testing 1.6350 – 1.6470 region.

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GBPUSD  Forecast
The GBPUSD continued its bullish momentum last week and hit 1.6287 earlier today. The bias remains bullish in nearest term testing 1.6350 – 1.6470 area. Immediate support is seen around 1.6250. A clear break below that area could lead price to neutral zone in nearest term testing 1.6200 – 1.6150 but overall I remain bullish on this pair and still prefer to buy on dips.

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GBPUSD  Forecast
The GBPUSD was indecisive yesterday. Price attempted to push lower, bottomed at 1.6075 but closed higher at 1.6115. The bias remains bullish in nearest term especially if price able to make a clear break above 1.6150 testing 1.6250 region. Immediate support remains around 1.6075. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.6000, I remain bullish on this pair with buy on dips strategy.

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GBPUSD  Forecast
The GBPUSD had a bullish momentum yesterday, topped at 1.5909 but still unable to move consistently above 1.5900 and hit 1.5869 earlier today. The bias is neutral in nearest term. A consistent movement above 1.5900 could trigger further bullish pressure retesting 1.6000 but only a clear break and daily close above 1.6000 would activate my bullish mode. Immediate support is seen around 1.5850. A clear break back below that area could trigger further bearish pressure testing 1.5800 but we need a clear break and daily close below 1.5800 strong support area to continue the false breakout bearish scenario testing 1.5700 – 1.5650.

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GBPUSD  Forecast
The GBPUSD attempted to push higher last week but whipsawed to the downside and now testing 1.5800 support area after failed to break above 1.6000. This fact keeps the false breakout bearish scenario intact especially if price able to make a clear break and daily close below 1.5800 testing 1.5700 – 1.5650 support area. The bias is bearish in nearest term. Immediate resistance is seen around 1.5900. A clear break above that area could lead price to neutral zone in nearest term and could open the door for another bullish pressure retesting 1.6000 key resistance.

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GBPUSD  Forecast
The GBPUSD attempted to push lower yesterday but still unable to break below 1.5800 support area and hit 1.5878 earlier today. There are no changes in my technical outlook. The bias is neutral in nearest term. Price has been moving sideways since Monday without clear direction and momentum. The false breakout bearish scenario remains intact but need a clear break below 1.5800 strong support area to continue the bearish scenario testing 1.5700 – 1.5650. Immediate resistance is seen around 1.5920/30. A clear break above that area could trigger further bullish pressure retesting 1.6000 region.