GBPUSD
The selling trend continues this week for GBPUSD and now it seems to be taking some due retracement. If we look into intra-day prospective, we will find that few good selling levels will be available for us as soon as GBPUSD completes its current retracement. The first such level can be seen around 1.5970 level, which also has acted as a good resistance previously as well.
In case GBPUSD extends its move towards 1.6100 level, the second selling level can be seen around 1.6100 level. Once GBPUSD breaks above 1.6100 level, then the trend will confirm itself in buying and both positions should be exited and even reversed by aggressive traders.
Once GBPUSD completes its retracement and resumes its downward trend, we will see it heading towards 1.5800 level and break of that will test 1.5700 level. RSI is a bit on lower side but with current retracement, it will open up more than enough space to take a dip to 1.5700 level.
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