The Gbpusd had another indecisive movement yesterday. The bias is neutral in nearest term. Immediate support is seen around 1.2200 followed by 1.2135 but key support remains at 1.2000. Immediate resistance is seen around 1.2280. A clear break above that area could trigger further bullish pressure testing 1.2330/50 region. My major technical outlook remains bearish but as long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid.
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