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GBP/USD indecision reigns, yet upside likely
GBP/USD has been consolidating over the past three days following a bottom back on the 8 July. Despite the broadening formation that is in play, which exhibits lower lows, I primarily see this as consolidation. As such, I expect a move higher given the entry into this formation.
The $1.555 support level is crucial and I would be looking for bullish reversal candlestick formations around that level for a move higher. With that in mind, I expect us to see a move towards $1.5747 in the near future. However, my bullish outlook would come under question below $1.5447.