GBPUSD bullish move has lost steam. Price action may move towards the support @ 1.6745. Short term we may see a small pullback to 1.7041 handle which has become resistance unless broken. This could be the time to short. RSI below 50 may also give confirmation.
Long term bearish sentiment may take it to yearly pivot and 0.5 FIB level @ 1.6000 handle.
GBP/USD felt to really important level if there's an chance that it will conitnue the uptrend that we might be just getting to the entry point at the moment. There's an confluence of green marked Demand zone, 50% Fibo retracement of last swing up (1,669-1,719), daily trend line and the previous smaller leg up low at 1,685 level (red circle). Todays down move was...