GBPUSD has formed a cycle top at 1.6516 on 4-hour chart. The fall from 1.6516 is now treated as consolidation of downtrend from 1.6745. Another fall would likely be seen later today, and target would be at 1.6150 area. Key resistance is at 1.6516, only break above this level could trigger another rise towards 1.7000.
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