GBPUSD Daily Forecast: October 15

GBPUSD Forecast

The GBPUSD attempted to push lower last week, slipped below 1.6000 but still unable to consistently move below that area so far. The bias is neutral in nearest term. However, I think the overall pressure should remain to the downside as a part of the false trend line breakout (bearish scenario) testing 1.5900 – 1.5800. Immediate resistance is seen around 1.6070. A clear break above that area could trigger further bullish pressure testing 1.6100 – 1.6135 and keep medium term outlook remains neutral between 1.6000 – 1.6300.