GBPUSD: Unless GBP breaks and holds above its intra day high at 1.5756 level, it faces a return to the downside in the days ahead. On the downside, support lies at the 1.5600 level where a break will aim at the 1.5550 level where a break will aim at the 1.5600 level.
A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5450 level. Conversely, resistance resides at the 1.5756 level with a break aiming at the 1.5850 level. A violation will aim at the 1.5800 level and possibly higher towards the 1.5850 level. On the whole, GBP continues to retain its broader downside bias medium term but faces immediate recovery risk.
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