The GBPUSD had a significant bearish momentum yesterday bottomed at 1.5434 and hit 1.5426 earlier today in Asian session. The bias is bearish in nearest term but note that as long as stays above 1.5407 actually price remains sideways and need a clear break and daily close below 1.5407 to continue the bearish scenario testing 1.5330 – 1.5270. Immediate resistance is seen around 1.5500. A clear break above that area could lead price to neutral zone in nearest term testing 1.5550 – 1.5600 and keep price in a sideways condition since five weeks ago.
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