The GBPUSD had a bullish momentum yesterday topped at 1.6171. The bias is bullish in nearest term testing 1.6200 – 1.6259. As you can see on my daily chart below, we have a potential H&S formation with 1.5950 as key support. Immediate support is seen around 1.6130. A clear break below that area could lead price to neutral zone in nearest term testing 1.6100 – 1.6060 but any downside pullback now is normal and as long as stays above 1.5950 I still prefer a bullish scenario at this phase.
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