GBP/USD recovers strongly after diving to 1.5829 earlier today. At this point, At this point, short term outlook will remain bearish as long as 1.6064 resistance holds and GBP/USD is still expected to fall further to 1.5706 cluster support next retracement of 1.3503 to 1.7043 at 1.5691. On the upside, though, break of 1.6064 will indicate that a short term bottom is formed, possibly with bullish convergence conditions in 4 hours MACD and stronger rebound should then be seen.
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