The GBPUSD attempted to push higher yesterday, topped at 1.5991 but further bullish momentum was rejected and closed lower at 1.5919. The bias is neutral in nearest term. Overall I still prefer a bullish intraday scenario at this phase with buy on dips strategy as a part of the bullish outlook since the breakout above the trend line resistance but price remains sideways so far, moving in a wide range area between 1.6000 – 1.5650 and need a clear break on either side to see clearer direction. Aggressive traders can sell around 1.6000 with a tight stop loss as a clear break and daily close above 1.6000 could continue the bullish scenario. Immediate support is seen around 1.5900. A clear break below that area could trigger further bearish pressure testing 1.5800 support area.
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