Momentum turning down following the 1.3558 high but for damage to be fatal, 1.3342 and 1.3322 would need to be broken.’
To break momentum, the trendline and 1.3395 would need to be broken.
Note that EURGBP selling, a flow that helped drive GBPUSD to 1.3558, has reversed and buying has been a factor in the GBPUSD retreat so keep an eye on this cross. As of this writing, EURGP has retreates from its high and eased pressure oin GBPUSD (and EURUSD upside).
(AT 4 hour chart)
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