GBPUSD Daily Forecast: February 13

GBPUSD Forecast

The GBPUSD attempted to push lower yesterday bottomed at 1.5571 but whipsawed to the upside and closed higher at 1.5674, formed a hammer formation on daily chart. The bias is neutral in nearest term. I still prefer a bearish outlook as a part of the false breakout bearish scenario but the hammer formation gave a potential upside pullback warning especially if price able to make a clear break and daily close above 1.5700 retesting 1.5800. On the downside, we need a clear break below 1.5571 to keep the bearish scenario remains strong testing 1.5500 or lower.