GBP/USD
After a rebound in the recent weeks, the Cable has resumed its downtrend in the recent sessions. This trend should extend in the short term toward 1.5388/93 (last retracement of the uptrend between June 1 and June 20 and July 12 low pivot). A break below this level would signal a new test of the medium term support zone between 1.5233 and 1.5274. The initial resistance stands at 1.5630. Short
(stop @ 1.5631 – target @ 1.5394).
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NATIXIS