Since September 7 GBPUSD moved upward to level 1.5660. The upward movement took the form of simple ABCD correction where AB = CD. Two weeks ago started falls which have abolished all the upward move from the first half of September. Support that stopped falls for 4 months was break below. Currently, the supply is trying to break the next support on 1.5100. When break below will be successfully the target of falls is the level of 1.5000. After that, next target of bears will be at the minimum of 2015 on level 1.4560.

Alternatively, if bulls will break above the new resistance on 1.5160 the price will go to it will lead to first target on 1.5330 and the second target to 1.5450.

GBPUSD-H4

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