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GBP/USD clearly trending lower
Cable has clearly been trending lower over the past week, which comes following an attempted break through trendline resistance. As things stand, I am simply watching out for continued lows and lower highs. This means I am bearish for a move back down towards the $1.5241 and $1.52 area, unless we see a new higher high. Thus a move and close back above $1.538 would negate my bearish view.