GBP/USD's upside correction is looking tired says analyst. The rally halted ahead of its 61.8% retracement target of 1.6460 Tuesday and while further gains toward the 1.6655-1.6745 pivot levels cannot be ruled out, analyst says this view is less likely. Instead, a break below 1.6230 would further alleviate upside pressure and open risk toward the 200 DMA at 1.6169 and then 1.6120 and the recent low of 1.5896. GBP/USD trades at 1.6272.
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