The GBPUSD also had a significant bearish momentum yesterday after break below 1.5370, bottomed at 1.5237 and closed at 1.5262. On h4 chart below we can see that price is now testing 1.5200 area, the lower line of range area indicating a critical technical phase. Breakdown below 1.5200 could be seen as potential bullish failure testing 1.5120 even 1.5000 psychological level. However note that as long as price still move above 1.5200 the bullish scenario remains intact. Immediate resistance at 1.5330 area. Break above that area could trigger further bullish momentum testing 1.5400 region and keep the bullish scenario intact.
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