GBPUSD Forecast:

The GBPUSD attempted to push higher yesterday but the upper line of the triangle did a good job preventing further upside pressure before price whipsawed to the downside and slipped below the triangle. We have not seen significant bearish momentum below the triangle so far, but I think overall the pressure is more to the downside testing 1.5370  before targeting 1.5250 region. Immediate resistance at 1.5500. Break above that area could trigger further upside pressure re-testing 1.5575 but the main scenario remains to the downside.

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