S/t outlook improved on break of 6120. Shld see some upside in n/t but allow for a retracement before next leg higher .Mkt faces strong res in 1,6180-90 area ( Fibo +swing Fibo ) that shld cap for a mom .

We squared longs viewing recent surge as overdone.Looking for pullbacks to reenter longs with 1,6230/50 as a target 

*Aggresive players may try small contra-trend shorts in 1,6170/80 area with tight stops >1,6205 target 1,6120/10

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Tags: GBPUSD

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