[m.youssif]

GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday, bottomed and closed at 1.6040. The bias is bearish in nearest term targeting 1.5950 but note that overall we are still in a major bullish outlook and only a violation to the bullish channel could be a threat to the bullish scenario. Immediate resistance at 1.6100. Break above that area could trigger further upside momentum but need a clear break above 1.6170/80 to continue the bullish scenario testing 1.6270 – 1.6300.

[m.youssif]

GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday, bottomed and closed at 1.6040. The bias is bearish in nearest term targeting 1.5950 but note that overall we are still in a major bullish outlook and only a violation to the bullish channel could be a threat to the bullish scenario. Immediate resistance at 1.6100. Break above that area could trigger further upside momentum but need a clear break above 1.6170/80 to continue the bullish scenario testing 1.6270 – 1.6300.