The GBPUSD was technically a mess yesterday. Price slipped above the trendline resistance, topped at 1.5226 but closed significantly lower at 1.5148 and now struggling around the trendline resistance. The bias is neutral in nearest term. My wait and see mode is activated now, but as long as price move above the 1.5000 area the upside scenario should remain strong. On the other hand, break below 1.5000 could be a serious threat to the upside correction scenario at least testing 1.4900 area. On the upside, we still need a consistent move above 1.5200 area to continue the bullish scenario testing 1.5400 – 1.5500.
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