Strategy: Pending Short
GBPUSD continues to consolidate above support at 1.5324, the 38.2% Fibonacci retracement of the 5/20-8/6 rally, after breaking below a rising trend line that had guided that advance. Our bias remains bearish and we will continue to monitor positioning for selling opportunities, though risk/reward does not look attractive to place a trade at present. Near-term resistance lines up at 1.5584, the 23.6% Fib.
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