GBPUSD: Risk Shifts To The Downside With Caution!

Pound-Dollar-7676-ert

Short-term outlook in GBPUSD has turned to the downside as long as 1.3551 resistance holds on a 4-hour closing basis, support comes at the 1.3465 levels where a cut will aim the 1.3370 levels, a halt is likely and it may turn higher from here, but if this fails to occur, expect the pair to drop further towards the 1.3200/1.3145 levels.

On the upside, above 1.3551 will recapture the 1.3616 levels, a sustained breakout above 1.3616 will restore the upside momentum and pave the way to the 1.3660 levels ahead of 1.3700 levels.

Conclusion: The GBPUSD continues to face downside threats below 1.3551 levels in the short term forecast…

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