The GBPUSD had a bullish momentum yesterday topped at 1.6337 and now slip above the bearish channel as you can see on my h4 chart below. The bias is bullish in nearest term testing 1.6400/20 key resistance area. Immediate support at 1.6300. A clear break below that area would lead us to neutral zone in nearest term testing 1.6220 support area. A quick look at daily chart reveals that price has been moving in a sideways condition between 1.6400 – 1.5950 and need a clear break on either side to see clearer direction.
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