A recovery back above 1.5665 on the other hand could gave support to the pair, but above 1.5710 the pair is likely to lose strength. A break of 1.5740 with a consolidation on top would open the doors for a rise toward the next resistance located around 1.5780.
The daily chart shows the bearish trend intact, with the pair consolidating between 1.5740 and 1.5590 since Monday after losing 400 pips from Nov 3 to Nov 14. Consolidation is likely to persist on Friday.
View Live Chart for GBP/USD
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