GBP/USD Mid-Day Outlook
Daily Pivots: (S1) 1.5272; (P) 1.5395; (R1) 1.5463; More.
With 4 hours MACD crossed above signal line, a temporary low is in place at 1.5327 and intraday bias is turned neutral. Some consolidations would be seen but recovery should be limited below 1.5868 resistance and bring fall resumption. Below 1.5327 will target 161.8% projection of 1.6746 to 1.5780 from 1.6618 at 1.5055 next.
In the bigger picture, rise from 1.4229, which is treated as the third leg of consolidation from 1.3503 (2008 low) should be finished at 1.6746
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