The GBPUSD was indecisive yesterday but overall still able to maintain its bullish correction bias. I still prefer a bearish scenario with sell on rallies strategy. The bias is neutral in nearest term. Important intraday range to be closely watched is seen between 1.5050 – 1.5200. A clear break below 1.5050 could trigger further bearish pressure testing 1.5000 or lower. On the other hand, a clear break and daily close above 1.5200 could continue the bullish correction phase.
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