The GBPUSD was volatile but indecisive yesterday. Price attempted to push higher, topped at 1.5811 but closed lower at 1.5746. There are no changes in my technical outlook and as long as stays below 1.5875 I still prefer to short on rallies. Immediate support which is also the nearest target remains around 1.5700 – 1.5635. Price has been moving sideways since the breakdown below range area but it should be a normal consolidation and only a clear break and daily close back above 1.5875 would stop the current bearish intraday outlook and activate my wait and see mode.
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