Trade Idea Wrap-up: GBP/USD –Sell at 1.6570

Despite intra-day marginal fall to 1.6355 (yesterday’s low was 1.6357), lack of follow through selling and the subsequent rebound suggest consolidation would take place and retracement to the Ichimoku cloud (now at 1.6501-09) cannot be ruled out, however, upside should be limited to 1.6540/50 and renewed selling interest should emerge