[m.youssif]

GBPUSD Forecast
The GBPUSD was also corrected significantly higher yesterday, topped at 1.5877 and closed at 1.5847. Unlike the EUR/USD, the GBP/USD strong bullish momentum was not a big surprise for me since the major bullish scenario remains intact as price still move inside the major bullish channel. However, like the EUR/USD, neither of bullish nor bearish is able to maintain their momentum this week suggests unclear direction. Yesterday’s bullish movement found resistance at 50% Fibo retracement of 1.6105 – 1.5649 around 1.5880 as you can see on my h4 chart below. Break above that area could trigger further bullish continuation targeting 1.6000 before re-testing 1.6105. Immediate support at 1.5750. Break below that area could trigger further bearish momentum re-testing the lower line of the bullish channel and 1.5649 – 1.5600 support area.

[m.youssif]

GBPUSD Forecast
The GBPUSD was also corrected significantly higher yesterday, topped at 1.5877 and closed at 1.5847. Unlike the EUR/USD, the GBP/USD strong bullish momentum was not a big surprise for me since the major bullish scenario remains intact as price still move inside the major bullish channel. However, like the EUR/USD, neither of bullish nor bearish is able to maintain their momentum this week suggests unclear direction. Yesterday’s bullish movement found resistance at 50% Fibo retracement of 1.6105 – 1.5649 around 1.5880 as you can see on my h4 chart below. Break above that area could trigger further bullish continuation targeting 1.6000 before re-testing 1.6105. Immediate support at 1.5750. Break below that area could trigger further bearish momentum re-testing the lower line of the bullish channel and 1.5649 – 1.5600 support area.