The Daily Forecaster: GBPUSD

Price: 1.5777

Bias: This still needs another move lower to the 1.5703 area minimum and probably 1.5640-70
The underlying MT direction is bearish while the daily bias is bearish. Therefore the main risk is lower. Ensure that key resistances levels hold. Note key support levels that would suggest continuation of the bearish move. Consider confirming this with a bearish set up pattern in price or 2 an indicator. Only consider a possible larger reversal higher should key MT resistance break and is supported by a bullish set up in price or an indicator. 2
Consider buy set ups at: 1.5640-70
Consider sell set ups at: 1.5783-93