GBP Trading Outlook (24-08-2015)

GBPUSD

Pivot: 1.5655

Likely scenario: Long positions above 1.5655 with targets @ 1.5725 & 1.577 in extension.

Alternative scenario: Below 1.5655 look for further downside with 1.56 & 1.556 as targets.

Comment: A support base at 1.5655 has formed and has allowed for a temporary stabilisation

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