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A new leg to 1.6055 but mainly sideways just below 1.6100

FXStreet (San Francisco) - The Sterling completed a new mini-drop to 1.6055 against the Greenback where the pair found some buying interest that left the pair trading sideways just below 1.6100.

Currently, GBP/USD is trading at 1.6091, down 0.08% on the day, having posted a daily high at 1.6158 and low at 1.6055. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish.

GBP/USD sentiment

Jamie Coleman from FXBeat recommends to write any good UK data down and trade off it after the referendum as "if we get a "no" vote the Thursday after next, expect the string of good data, along with a relief rally, to lift the pound. But don't trade good data before then. It will only become overwhelmed by the next bit of polling data."

If the pair manages to extend loses beyond the 1.6100 area, it will face next supports at 1.6055 and 1.6000. On the upside, resistances are at 1.6150, 1.6190 and 1.6230.

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