GBPUSD 1D | Market View

- Currently the price development suggests that whole corrective rise from 1.1409 has already finished. The longer term picture (1W) suggest the bearish outlook still continuing, as it’s held well below the long term falling trend line that started back at 2116 (2007 high). Rejection by 55 month EMA also affirmed bearishness. NOTE: A break of 1.1946 will target 1.18700, 1.14800 and 1.0273.
- Initial bias stays on the downside this week for retesting 1.1409 low.

2nd Scenario:
- On the upside, above 1.2238 minor resistance price actions will turn intraday bias into neutral.