GBPUSD Daily Forecast: February 04

GBPUSD Forecast

The GBPUSD attempted to push higher last week topped at 1.5877 but whipsawed to the downside and slipped below 1.5700 earlier today. This fact keeps the false breakout bearish scenario remains strong testing 1.5600 region. The bias is bearish in nearest term. Immediate resistance is seen around 1.5730.  A clear break above that area could lead price to neutral zone in nearest term testing 1.5780 – 1.5800 but overall I still prefer a bearish scenario.