The GBPUSD had a significant bearish momentum yesterday after failed to consistently move above 1.4900 resistance, bottomed at 1.4594 and closed at 1.4611. As you can see on my h1 chart below price is now convincingly move below the major trendline support indicating bearish view targeting 1.4475 area. However CCI about to cross the -100 line up on h1 chart so watch out for potential upside correction testing 1.4680. Break above that area could trigger further bullish correction towards 1.4760 but I still prefer a bearish outlook with short on rallies strategy at this phase.
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