Outlook in GBPUSD has turned neutral with risk to the downside , resistance comes at the 1.5720 levels, a failure to hold above the 1.5720 levels on a daily closing basis could mean a return to the 1.5630/1.5589 levels where a cut will call for a fall towards the 1.5500 levels , further losses will aim the 1.5370/1.5230 levels .
On the upside , resistance comes at the 1.5720 levels , break of the 1.5720 levels on a daily closing basis , will put the pair in recovery mode , but recovery above the 1.5720 levels should be limited by the 1.5825/1.5945 levels where fall resumption is likely , however ; sustained trading – daily closing – above the 1.5945 levels will bring strong recovery towards the 1.6022/1.6183 levels before the next move !!!
In all , as long as resistance 1.5720 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.5630/1.5589 levels ahead of the 1.5370/1.5230 levels , above 1.5720 faces a recovery risk towards the 1.5825/1.5941 levels before the next fall.
Support and resistance : 1.5230 , 1.5370 , 1.5500 , 1.5589 ,1.5630, 1.5720 ,1.5775 , 1.5725 , 1.5945 , 1.6022 , 1.6183