The GBPUSD had a significant bullish momentum yesterday on broad US Dollar weakness, broke above 1.6192 resistance area and violated my bearish channel as you can see on my daily chart below. This fact cancels the bearish scenario and might be the early signal of a new bullish phase. The bias is bullish in nearest term testing 1.6375 – 1.6440. Immediate support is seen around 1.6250. A clear break below that area could lead price to neutral zone in nearest term but as long as price stays above 1.6192 my overall intraday bias remains to the upside.
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