GBPUSD traded in a range between 1.5561 and 1.5779 for several days. One more fall to test 1.5423 support is still possible, a breakdown below this level could signal resumption of the downtrend from 1.6164. Key resistance is now located at 1.5779, above this level will confirm that the downtrend from 1.6164 had completed at 1.5423 already, then the following upward movement could bring price to 1.6500 area.

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