[m.youssif]

GBPUSD Forecast
The GBPUSD attempted to push higher on Friday topped at 1.6093 but whipsawed to the downside and closed lower at 1.5977 after found resistance at the upper line of the minor bearish channel as you can see on my h4 chart below. The bias is neutral in nearest term. The major scenario remains bullish but as long as price moves inside the minor bearish channel (red) we are still in bearish consolidation phase. Immediate support remains around 1.5950. Break below that area could trigger further bearish pressure testing the lower line of the major bullish channel (white) and 1.5880 support area which could be a threat to the major bullish outlook. Initial resistance at 1.6100. Clear break above that area could end the current bearish correction phase targeting 1.6170 and 1.6292.

[m.youssif]

GBPUSD Forecast
The GBPUSD attempted to push higher on Friday topped at 1.6093 but whipsawed to the downside and closed lower at 1.5977 after found resistance at the upper line of the minor bearish channel as you can see on my h4 chart below. The bias is neutral in nearest term. The major scenario remains bullish but as long as price moves inside the minor bearish channel (red) we are still in bearish consolidation phase. Immediate support remains around 1.5950. Break below that area could trigger further bearish pressure testing the lower line of the major bullish channel (white) and 1.5880 support area which could be a threat to the major bullish outlook. Initial resistance at 1.6100. Clear break above that area could end the current bearish correction phase targeting 1.6170 and 1.6292.