When we look at GBP/USD's price action in July, we see a pair that shifted from bearish to sideways after finding support at 1.5330. Now, to me, there is a slight bullish bias in the short to medium-term, but this slightly bullish outlook will be tested very soon as cable once again retreated from the 1.5675 resistance.GBP/USD 4H Chart 7/30(click to enlarge)Now, this the last attempt to break 1.5675 did crack the resistance, but without a close above it, we can't say that the resistance is broken. Now, as price retreats, the 1.5525-30 area will be critical if the bullish outlook is to remain in play. For me, if price bounces off of this level and climbs back nicely above 1.5550, I am looking for a strong attempt to finally clear the 1.5675 high, which would then open up the 1.5929 high on the year made in June.A break below 1.5525 however would suggest further bearish correction with the 1.5330 low back in sight for the next week.