GBPUSD appears to be turning lower off the top of its recent range and may head towards 1.5425 and possibly 1.5330
· GBPUSD posted a bearish outside day yesterday at the top of the recent range
· It now looks likely to head lower towards support at the bottom of the range at 1.5425 and potentially to the June low at 1.5330
· The UK-US relative curve spread (average of UK 2s, 5s and 10s minus average of US 2s, 5s and 10s) has been a good leading indicator in the past for turns in GBPUSD
· It has already negatively diverged from the GBPUSD price action suggesting the currency pair should already be heading lower
(Citibank)
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