GBP/USD dropped further to as low as 1.5745 last week and the break of 1.5827 support indicates that whole rise from 1.5268 has finished at 1.6380 already. Initial bias remains on the downside Break of 1.5751 will target a test on 1.5400 and 1.5265 key support next. On the upside, break of 1.5892 minor resistance is needed to signal short term bottoming. Otherwise, outlook will stay cautiously bearish.
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