Hi traders!

GBPUSD: This pair is currently going sideways. The bears will try to bring this pair down to the support level at the 23.6% fib level at 1.59118 level. A break below that level may bring the pair lower to the 38.2 Fib level at 1.57.

Nevertheless, as long as the pair remains above the 23.6 Fib level, there is still a chance of rebounding to the topside, especially if price breaks above the down trend line marked in orange.

Cheers!

Ardy