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GBPUSD: With GBP selling off to resume its broader downtrend during Thursday trading session, further weakness is likely. On the downside, support lies at the 1.5920 level where a break will aim at the 1.5850 level.

A break of here will turn attention to the 1.5800 level. Further down, support lies at the 1.5750 level. Its daily RSI is bullish and pointing lower supporting this view.

Resistance resides at the 1.6000 level with a break aiming at the 1.6050 level. A violation will aim at the 1.6100 level and possibly higher towards the 1.6150 level. On the whole, GBP continues to retain its broader downside bias medium term.

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