Outlook in GBPUSD remains neutral with risk to the downside as long as 1.5678 resistance holds on a daily closing basis , support comes at the 1.5600 levels where a cut will open 1.5540 levels , further down will open 1.5500 levels ahead of the 1.5400 levels .
On the upside , resistance comes at the 1.5678 levels , watch out , the pair may spike above the 1.5678 levels and return to the downside , however ; a failure to break below 1.5600 levels followed by a break above the 1.5678 levels on a daily closing basis will recapture main resistance levels at the 1.5775/1.5825 levels.
In all , despite the pair is under pressure , but in general ; outlook remains neutral within 1.5540/1.5775 levels.
1- Sustained trading – daily closing – below 1.5600 levels will open 1.5500/1.5400 levels.
2- A rejection from the 1.5600 levels followed by a clear break above the 1.5678 levels will recapture the 1.5775/1.5825 levels.
Intraday : As long as 1.5665 resistance holds on a 4 hour closing basis , the pair remains under pressure with risk towards the 1.5600 levels ahead of the 1.5540 levels.above the 1.5665 levels will open 1.5775 levels..