GBPUSD traded in a range between 1.5631 and 1.5851 for several days. As long as 1.5631 support holds, the price action in the range could be treated as consolidation of uptrend from 1.5272, another rise to 1.6000 is still possible. On the other side, a breakdown below 1.5631 will indicate that lengthier correction of uptrend is underway, then deeper decline could be seen to 1.5500 area.

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