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GBPUSD: Despite retaining its broader downside bias, GBP has triggered a recovery higher on correction. On the downside, support lies at the 1.5050 level where a break will aim at the 1.5000 level. A break of here will turn attention to the 1.4950 level.

Further down, support lies at the 1.4900 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1.5150 level with a break aiming at the 1.5200 level. A violation will aim at the 1.5250 level and possibly higher towards the 1.5300 level. On the whole, GBP continues to retain its broader downside bias medium term

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