GBP Trading Outlook (31-07-2015)

GBPUSD

Pivot: 1.5645

Likely scenario: Short positions below 1.5645 with targets @ 1.556 & 1.5535 in extension.

Alternative scenario: Above 1.5645 look for further upside with 1.569 & 1.5735 as targets.

Comment: As long as 1.5645 is resistance, look for choppy price action with a bearish bias.

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