GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price is now struggling around the trend line resistance as you can see on my H1 chart below. The bias is neutral in nearest term. Immediate support is seen around 1.5110. A clear break and daily close below that area would confirm the false breakout bearish scenario targeting 1.5000 – 1.4900 region. Immediate resistance is seen around 1.5200. A clear break and daily close above that area could trigger further bullish pressure testing 1.5335 area. Fundamental focus today will be on US retail sales, PPI and consumer sentiment data.
