After the pair's recent rally, it looks like the bulls are priming for a short break. For one, Stochastic is still not in the oversold area and is actually indicating downward momentum. We could see price pull back between the 50% and 61.8% Fibonnacci retracement levels and test the rising trend line too. Then again, if support at the 38.2% level holds, GBP/USD could skyrocket back up to 1.6300.
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