GBPUSD Daily Forecast: October 16

GBPUSD Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.6019 but whipsawed to the upside and hit 1.6090 earlier today. The bias is bullish in nearest term testing 1.6100 – 1.6150. Immediate support is seen around 1.6050. A clear break below that area could lead price to neutral zone in nearest term testing 1.6000 which needs to be clearly broken to the downside to continue the false trend breakout bearish scenario.