GBP/USD Correction Continues

 The GBP/USD correction continues. The pair failed to break above the resistance at 1.5550 and moved to the downside again, dropping with almost 60 pips in about an hour. It was to be expected, considering the doji candlestick that had formed in the 30 minute filter chart. Whether or not the move to the downside will continue depends on whether the pair will manage to break below the support at 1.5480. Should it bounce off the support I expect it to start climbing again to test the resistance at 1.5550 once more and then the one at 1.5610, which is visible on the daily filter chart.