GBPUSD is facing 1.5891 support, as long as this level holds, the fall from 1.6164 is treated as consolidation of uptrend from 1.5272, and another rise to 1.6250-1.6300 area is still possible. However, a breakdown below 1.5891 will indicate that a cycle top has been formed at 1.6164 on 4-hour chart, then lengthier consolidation of uptrend could be seen, and the trading range would be between 1.5800 and 1.6164.


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