GBPUSD: With GBP remaining weak and retaining its downside bias, further downside pressure is likely. On the upside, resistance resides at the 1.5600 level with a break aiming at the 1.5650 level. A violation will aim at the 1.5700 level and possibly higher towards the 1.5766 level. Its daily RSI is bearish and pointing lower supporting this view. On the downside, support lies at the 1.5500 level where a break if seen will aim at the 1.5450 level. A break of here will turn attention to the 1.5400 level. Further down, support lies at the 1.5350 level. On the whole, GBP continues to retain its pullback bias but with caution.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.