The GBPUSD maintained a bearish momentum yesterday. Topped at 1.5412 and bottomed at 1.5327 levels. As a result, the pressure will turn to the key support 1.5327. The GBPUSD will have to break and hold below the 1.5327 levels on a daily closing basis to push the market for further downside losses If seen. A bearish pressure will build on the 1.5288 levels. A break will aim the 1.5128 levels ahead of the psychological level 1.5000.
Alternatively, a failure to hold below the 1.5327 levels could reverse risks to the upside. If seen. A bullish momentum will be built on the 15412 levels. If 1.5412 fails on a daily closing basis. Expect the pair to strengthen towards the 1.5475 levels. A halt is likely but a breach will turn the focus on the 1.5530 levels ahead of the 1.5616 levels.