GBP Trading Outlook (07-09-2015)

GBPUSD

Pivot: 1.5215

Likely scenario: Short positions below 1.5215 with targets @ 1.515 & 1.512 in extension.

Alternative scenario: Above 1.5215 look for further upside with 1.526 & 1.531 as targets.

Comment: As long as 1.5215 is resistance, look for choppy price action with a bearish bias.

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