The GBPUSD had a significant bullish momentum yesterday and continue the upside pressure earlier today in Asian session hit 1.6296. The bias is bullish in nearest term but note that 1.6300 is a key resistance at this phase and might provide a strong resistance as you can see on my daily chart below. We need a clear break above that level to lead us to a new bullish phase with technical bullish target at 1.6500 – 1.6700 and as long as price moves below 1.6300 the h4 chart/medium outlook remains sideways between 1.6300 – 1.5950. Immediate support at 1.6230. A break below that area would lead us to neutral zone in nearest term testing 1.6180/50 support area.
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