I pull out 4h GBPUSD chart and notice, that we can draw a channel here.

gbpusd-d

We are at the moment on the lower border of a channel and also at monthly support, which is good confluence that price will react on it and moved up from here, option (1). One thing that it is bothering me with option (1) is that a bit above from 1.5500 till 1.5520 we have all 3 central pivot points, DPP, WPP and also MPP, which could act as a resistance.

Other option is that price will break that trend line, retest it from bellow and then proceed with down move, option (2).
There is no red major UK or US news in future 24 hours.

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