GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday bottomed at 1.5029. As you can see on my H1 chart below, price go back below the trend line suggests a bullish failure situation. Although doesn’t automatically turn on my bearish mode, this fact suggests a potential bearish bias in nearest term targeting 1.4950 region. Immediate resistance is seen around 1.5120. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. Fundamental focus will be on the FOMC interest rate decision on Wednesday/Thursday where the Fed is widely expected to raise interest rate for the first time since 2006.
