GBPUSD  Forecast

The GBPUSD was corrected lower yesterday, broke below 1.6480, bottomed at 1.6466 and hit 1.6449 earlier today in Asian session. The bias is bearish in nearest term testing 1.6400. A clear break below 1.6400 could diminish the current major bullish outlook with further support area to be tested around 1.6300 – 1.6350. Immediate resistance at 1.6500. A clear break above that area would lead us to neutral zone in nearest term testing 1.6550 resistance area, which I think need to be clearly broken to the upside to continue the bullish scenario.

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