The GBPUSD was corrected lower yesterday and hit 1.6063 earlier today. The bias is bearish in nearest term testing 1.6050 – 1.6000. The major bullish scenario should remain valid and we must see the current short term bearish momentum as a normal corrective move, but note that 1.6259 area could form a double top bearish reversal scenario which would be confirmed by a clear break below 1.5950. Immediate resistance is seen around 1.6140 – 1.6165. A clear break above that area could lead price to neutral zone in nearest term retesting 1.6259 – 1.6300 key resistance area which need to be clearly broken to the upside to keep the bullish scenario remains strong testing 1.6380 – 1.6500 area.
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