GBP/USD’s yesterday move didn’t send price for a positive retest of the resistance level at 1.6111. The intraday bias is slightly bearish for the moment, after the fact that down move lose momentum and now GBP/USD is trading just below the 1.6111. Continues sideway trade below this level price is targeting towards 1.6004 further decline toward 1.5786 could be seen after breaking this support. Recovery to continue test and trade above 1.6209 resistance level is needed, which would flip the bias to bullish. If price have positive break GBP/USD is facing first target at 1.6455.
Daily Pivots: Pivot Point – 1.6114, 1st Support – 1.6044, 1st Resistance – 1.6170