GBPUSD Daily Forecast: October 25

GBPUSD Forecast

The GBPUSD failed to continue its bearish momentum yesterday and hit 1.6076 earlier today. The bias is bullish in nearest term testing 1.6135/50 area. My medium term outlook remains unclear. We might have a false breakdown bullish scenario but overall price is still making lower highs since fell from 1.6300. Immediate support is seen around 1.6015/20. A clear break back below that area could lead price to neutral zone in nearest term testing 1.5950 – 1.5900.