GBPUSD  Forecast

The GBPUSD continued its bearish momentum yesterday, closed below 1.5700 and hit 1.5611. The bias remains bearish in nearest term especially if price able to make another strong break below 1.5600 targeting 1.5500 area. Immediate resistance is seen around 1.5700/20. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.5875 I still prefer a bearish scenario with short on rallies strategy.

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