GBPUSD Forecast:

The GBPUSD made another bearish momentum on Friday, bottomed at 1.6459 and closed at 1.6501. My bearish scenario is now confirmed with 1.6400 and 1.6250 as technical target. However we have some upside rebound earlier today in Asian session and CCI in oversold area and about to cross the -100 line up so watch out for potential upside rebound testing 1.6600. Break above that area should lead us into no trading zone as bullish correction could continue testing 1.6692 area. Immediate support at 1.6459 (Friday’s low) Break below that area should trigger further bearish continuation momentum.

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