The GBPUSD had a significant bearish momentum yesterday, broke below the bullish channel as you can see on my h4 chart below, closed at 1.5934 and now struggling around 1.5970. The bias is bearish in nearest term testing 1.5850. Immediate resistance is seen around 1.6000/35. A clear break back above that area would lead price to neutral zone in nearest term but could create a false breakdown bullish scenario testing 1.6150 – 1.6200 area.
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