GBP/USD:
1.5371
Very Short-Term Trend: Weak downtrend
Outlook:The market declined to 1.5267 on Friday then bounced back strongly. Friday's low was just a few points above the 1.5260 key Fibonacci and chart level. Thus, once again this level has proved to be of great importance. Now, we are in a small corrective rally that is likely to extend a bit today toward 1.5490/1.5510. If such a rally develops, it will be considered a selling opportunity.
On the downside, below 1.5260 may bring a downside acceleration toward 1.5000.
Strategy: Shorts favored again at 1.5510 against 1.5560.
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