GBP/USD Technicals" title="GBP/USD Technicals" src="https://d1-invdn-com.akamaized.net/content/pic76ea158b39e2cbe5869695c3ea02b4fa.png" height="317" width="914">
GBP/USD beat 1.6170/80 but only as far as 1.6225. We have therefore retested the 2 and a half tier trend line again and held below. Immediate support is 1.6146/40 so below here today turns the outlook more negative. We then look for a test of the next support at 1.6100/95. A low for the day is likely here but any longs need stops below 1.6070.
Above 1.6180 is more positive & should retest 1.6220/25. A high for the day is likely here again. However on a break higher we could reach as far as a retest of 1.6250/60 October highs. Exit longs & try shorts here with a sell off in to the end of the week possible.