Outlook in GBPUSD has turned neutral with risk to the downside , resistance comes at the 1.5572 levels , a failure to hold above the 1.5572 levels on a daily closing basis could mean a return to the 1.5485 levels , a cut would open 1.5400 levels , a halt is likely but losing the 1.5400 levels would open 1.5300 next , further down will aim the 1.5185 levels.
On the upside , resistance comes at the 1.5572 levels , break of the 1.5572 levels on a daily closing basis will put the pair in recovery mode , but recovery above the 1.5572 levels should be limited by the 1.5681 levels where fall resumption is likely !!!
In all , as long as 1.5572 resistance holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.5485 levels ahead of the 1.5400 levels , above 1.5572 will bring rebound towards the 1.5681 levels before the next possible fall !!!!!!!
Intraday ; According to 4 hour time frame , the pair is in recovery mode at the moment (almost overbought) , but recovery above the 1.5485 levels should be limited well by the key resistance 1.5572 ,a rejection from the 1.5572 levels could mean a return to the 1.5485 levels, a cut will open 1.5400 levels….. however ; break of the 1.5572 levels on a 4 hour closing basis will extend recovery from the 1.5485 levels towards the 1.5681/1.5698 levels before the next fall….