The GBPUSD had a significant bearish momentum on Friday, broke below 1.6305 and closed at 1.6222. On my h4 chart below we can see the minor bullish channel has been violated to the downside suggests further bearish outlook as the H&S formation is likely to continue its bearish scenario testing 1.6130 even 1.6063/00 support area this week. Immediate resistance at 1.6305. Another bullish pullback back above that area would lead us to neutral zone in nearest term as direction would become unclear.
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