GBPUSD Forecast
The GBPUSD attempted to push lower last week, bottomed at 1.2922 but whipsawed to the upside and closed higher at 1.3113 and hit 1.3132 earlier today in Asian session. The bias is bullish in nearest term. The bearish outlook is no longer valid, but I am not in  bullish mode. Not yet. From another technical perspective, we have a valid falling wedge bullish scenario as you can see on my H4 chart below with nearest bullish target seen around 1.3175. Immediate support is seen around 1.3090. A clear break below that area could lead price to neutral zone in nearest term testing 1.3040 region. I still prefer a bearish scenario but need a clear break at least back below 1.2935 to reactivate my bearish mode.

gbpusdh4

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