GBP USD Weekly Chart Indicates Break to 1.5530

The GBP USD should post a weekly reversal down barring any surprises during the last two hours of trading.

Analysis

The combination of a break below a major 50% price at 1.6085 and last week’s close at 1.6188 has put downside pressure on the GBP USD.

Barring any surprise during the final hours of trading, look for the British Pound to post a weekly closing price reversal down.

The minimum downside target of this developing break is 1.5530.

Daily Chart

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