GBPUSD Daily Forecast: December 16

GBPUSD Forecast:
The GBPUSD didn’t make significant movement yesterday, still trapped in triangle area as you can see in my h4 chart below indicating consolidation.

The bias remains neutral in nearest term. Although I still prefer a bearish scenario, I will keep waiting for a valid break from the triangle before make any decision.

Break above the triangle should be seen as serious threat to my bearish outlook testing 1.6400 while breakdown below the triangle should be seen as potential bearish continuation with target remains around 1.6113 area.

Setyo Wibowo
fxinstructor.com