The GBPUSD regained its bullish momentum yesterday, topped at 1.5962 and closed at 1.5955. The bias is bullish in nearest term testing 1.6000 but note that we still need a clear break and daily close above 1.6000 to continue the bullish scenario testing 1.6129/50 area. Immediate support is seen around 1.5925/00. A clear break below that area could trigger further bearish pullback testing 1.5850 region. Price is still trapped between 1.6000 – 1.5650 for more than two months now and need a clear break from the range area to see clearer direction.
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