A rebound effort Monday, but capped by down the trend lines (now 1.5130 and 1.5190) and chart resistance at 1.5221 to leaves downside pressures intact.
A more significant erosion last week, through 1.5197 for a more bearish shift to aim for lower targets into March.
- We see a downside bias through 1.5052 for 1.5026 and 1.4989; break here aims for 1.4951.
- But above the trend line (1.5130) aims for the trend line at 1.5190 and opens risk up to 1.5221, which we would look to cap.
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4 Hour GBPUSD Chart