GBPUSD  Forecast

The GBPUSD continued its bearish momentum yesterday, bottomed at 1.6229 and hit 1.6223 earlier today in Asian session. This fact gives me further confirmation about the bearish reversal scenario after the violation to the bullish channel as you can see on my daily chart below especially if price able to make a clear break below 1.6209 targeting 1.6110. Immediate resistance is seen around 1.6300/50 region. A clear break above that area would reactivate my wait and see mode as direction would become unclear.

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