GBPUSD seems currently taking retracement after touching its weekly target at 1.6235 level and we might see initial dip towards 1.6100 level. In weekly charts, the possibility of downward trend but in daily charts GBPUSD is setting itself nicely for an upward move towards 1.6400 level.
On the upper side, the first major resistance is seen just around 1.6240 level and we might see Intra-day traders concentrating on buying GBPUSD around 1.6100 level for 1.6300. On the lower side break of 1.6100 level will lead GBPUSD below 1.6000 level.
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