GBPUSD: Sell Entry Sought Amid Recovery
Strategy: Pending Short
GBPUSD put in a Spinning Top candlestick at support marked by the confluence of a falling trend line connecting major lows since mid-April and the bottom of a downward-sloping channel taking shape since February. The setup hints a bounce is ahead, with initial resistance at the 23.6% Fibonacci retracement level (1.5920). We maintain broadly bearish, and will look at any upswing as a selling opportunity.
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