The GBPUSD was corrected higher last week topped at 1.5177. Although price is still in bullish correction phase, overall I still prefer a bearish scenario with sell on rallies strategy. Immediate support is seen around 1.5070. A clear break below that area could trigger further bearish pressure testing 1.5000. On the upside, a clear break and daily close above 1.5177 – 1.5200 could trigger further bullish correction.
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