GBPUSD stays in a trading range

GBPUSD stays in a trading range between 1.5458 and 1.5767. Lengthier consolidation in the range is still possible in a couple of days. Resistance is at 1.5767, a break above this level will target 1.5900 zone. Support is at 1.5458, a breakdown below this level will indicate that the longer term downtrend from 1.6301 (Apr 30 high) has resumed, then another fall towards 1.5000 could be seen.

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