GBPUSD Forecast
The GBPUSD attempted to push lower yesterday bottomed at 1.4993 but whipsawed to the upside and closed higher at 1.5055, formed a hammer candlestick formation on daily chart, suggests a potential bullish scenario after the failure to make a clear break below 1.5000 psychological support. The bias is bullish in nearest term. As you can see on my H1 chart below, price is struggling around the lower line of the violated bullish channel, challenging the H1 EMA 200 located around 1.5115. A clear break above that area could trigger further bullish pressure testing 1.5200 area. Immediate support is seen around 1.5050. A clear break below that area could lead price to neutral zone in nearest term retesting 1.5000. My bearish outlook remains valid, but need a clear break below 1.5000 to continue the bearish scenario.
