GBPUSD moved sideways in a trading range between 1.5874 and 1.6226. As long as 1.6226 resistance hold, the sideways movement could be treated as consolidation of the downtrend from 1.6524, another fall to 1.5600 area could be expected after consolidation. On the upside, a break of 1.6226 resistance will indicate that the downtrend had completed at 1.5874 already, then further rise to 1.6400 area could be seen.
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