GBPUSD  Forecast

The GBPUSD was able to maintain its bearish bias yesterday and found a good intraday resistance around 1.6425 and still moves below the bullish channel. However, I think the bias remains neutral in nearest term as price might be in a consolidation phase and need a clear break below 1.6280 to continue the bearish scenario testing 1.6164. On the upside, 1.6425/50 remains a key resistance and a clear break above that area could continue the bullish pressure testing 1.6600.

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