A dip and a bounce Tuesday, but the probe below support at 1.4886/81 and a cap at 1.4984 leaves a downside correction bias within the range.
The rally last week above 1.5013 set a base for a broader range theme.
We see a downside bias for 1.4809; break here aims for 1.4761.
But above 1.4984 opens risk up to 1.5054, which we look to try to cap.
Short/ Intermediate-term Range Parameters: We see the range defined by 1.5164 and 1.4566.
Range Breakout Challenge
Upside: Above 1.5164 aims higher for 1.5256 and 1.5459.
Downside: Below 1.4500 aims for key longer term supports at 1.4295/28.
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4 Hour GBPUSD Chart