The GBPUSD continued its bearish momentum on Friday, bottomed at 1.6145 but still unable to move consistently below 1.6164 support area so far. The bias remains bearish in nearest term especially if price able to make a clear break below 1.6164 testing 1.6000 – 1.5970 key support area. Immediate resistance at 1.6230/50. A clear break above that area could lead us to neutral zone in nearest term testing 1.6300/50 resistance area but overall I still prefer a bearish scenario at this phase.
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