[m.youssif]

GBPUSD Forecast
The GBPUSD slipped below 1.5500 yesterday, but whipsawed to the upside, topped at 1.5594 and closed at 1.5570. The bias is neutral in nearest term but overall we are still in strong bearish phase. Immediate resistance at 1.5650. Break above that area could trigger further upside recovery testing 1.5750 but as long as price moves inside the bearish channel the major scenario remains to the downside. Initial support at 1.5500. Another move below that area could trigger further weakness for the Cable testing 1.5450 – 1.5400 support area.

[m.youssif]

GBPUSD Forecast
The GBPUSD slipped below 1.5500 yesterday, but whipsawed to the upside, topped at 1.5594 and closed at 1.5570. The bias is neutral in nearest term but overall we are still in strong bearish phase. Immediate resistance at 1.5650. Break above that area could trigger further upside recovery testing 1.5750 but as long as price moves inside the bearish channel the major scenario remains to the downside. Initial support at 1.5500. Another move below that area could trigger further weakness for the Cable testing 1.5450 – 1.5400 support area.