GBPUSD’s fall from 1.5471 extends to as low as 1.5203 level. Deeper decline is still possible later today and target would be at 1.5050 area. Key support is at 1.4948, as long as this level holds, the price action from 1.5471 is treated as correction of uptrend from 1.4230 (May 20 low), another rise towards 1.5522 (Apr 15 high) is still possible after correction.

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