GBPUSD Next Week Outlook - ranging near the Fibo support level for breakdown

W1 price is located below 200 period SMA (200 SMA)  and 100 period SMA (100 SMA) for the primary bearish with the ranging between 61.8% Fibo resistance level at 1.5586 and Fibo support level at 1.5026:

• intermediate support level at 1.5106 is going to be crossed to below by open weekly bar for the bearish trend to be continuing with Fibo support level at 1.5026 as the nearest bearish target with this case;
• bullish reversal level is Fibo resistance at 1.5929; if the price breaks this level from below to above so the reversal of the price movement from the primary bearish to the primary bullish condition will be started;
• RSI indicator is estimating the downtrend in ranging way to be continuing.

If the price will break Fibo support level at 1.5026 to below on close weekly bar so the bearish market condition will be continuing up to 1.4565 and 1.4352 as the next bearish targets.
If the price will break 61.8% Fibo resistance level at 1.5586 from below to above so secondary market rally will be started within the primary bearish market condition with Fibo resistance at 1.5929 as the next target.
If the price will break Fibo resistance at 1.5929 from below to above so we may see the reversal of the price movement to the bullish condition.
If not so the price will be ranging between between the levels.

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