GBP/USD: Failure to establish any fresh momentum following the break above 1.6000, followed by an aggressive bearish reversal in Tuesday trade now suggests that the market could finally be looking to carve a top in favor of a more significant decline over the coming sessions. Look for a break and close below next support and 1.5840 to reaffirm outlook, while back above 1.6065 would be required to negate.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com
