A modest rebound attempt since Friday was again capped by resistance at 1.4982/95 ahead of 1.5013, to leave a more negative bias for early April.
- We see a downside bias for 1.4871; break here aims for 1.4840, maybe closer to 1.4777 and 1.4740.
- But above 1.4982/95 opens risk up to 1.5013, maybe 1.5065, which we would look to try to cap.
Short/ Intermediate-term Outlook – Downside Risks:
- Downside bias back to the rebound ranger and for the new low at 1.4634.
- We see a more negative tone with the bearish threat to target 1.4500.
- A break aims for key longer term supports at 1.4295/28.
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2 Hour GBPUSD Chart[/caption]