GBPUSD stays in a trading range between 1.5770 and 1.6125. As long as 1.6125 resistance holds, the price action from 1.5770 is treated as consolidation of downtrend from 1.6741. Moving sideways without trend in the range is still possible in a couple of days. Another fall below 1.5770 would more likely be seen after consolidation, a break below 1.5770 will indicate that the downtrend has resume and deeper decline could be seen to 1.5600 zone.
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