GBP/USD has bounced off support from the neckline of a double top reversal pattern. It is not a strong bounce but it is possible it could rise slightly further up to resistance at 1.6000, which is, however, now only about 20 pips away. There is a very strong possibility of a break below the neckline which, as said in yesterday's analysis: “Would be marked by a move below 1.5880 perhaps – or more conservatively 1.5850. Such a break would probably generate a down-target to 1.5490, or to the most recent count on the 7.5 pip chart, calculated from the 20 box column down which has generated a target at 1.5615.”
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