GBP/USD: Although the market remains locked in an intense downtrend, daily studies are in the process of unwinding from oversold levels. The risks from here are for some additional corrective relief, but ultimately, any gains should now be well capped ahead of 1.5200, where a lower top is sought out ahead of the next major drop below 1.4780.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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