GBPUSD: The pair lost its upside pressure to turn risk lower on Wednesday. This development leaves GBPUSD targeting the 1.4600 level on more weakness. On the downside, support lies at the 1.4600 level where a break will turn attention to the 1.4550 level. Further down, support lies at the 1.4500 level. Below here will set the stage for more weakness towards the 1.4450 level. Conversely, resistance stands at the 1.4700 levels with a turn above here allowing more strength to build up towards the 1.4750 level. Further out, resistance resides at the 1.4800 level followed by the 1.4850 level. On the whole, GBPUSD now threatens downside on pullbacks.
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.