The GBPUSD attempted to push lower last week, slipped below 1.6000 but still unable to consistently move below that area so far. The bias is neutral in nearest term. However, I think the overall pressure should remain to the downside as a part of the false trend line breakout (bearish scenario) testing 1.5900 – 1.5800. Immediate resistance is seen around 1.6070. A clear break above that area could trigger further bullish pressure testing 1.6100 – 1.6135 and keep medium term outlook remains neutral between 1.6000 – 1.6300.
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