GBPUSD: GBP followed through lower on Monday leaving risk of more declines on the cards. This view remains valid while the pair holds below the 1.5784/1.5624 levels. On the downside, support lies at the 1.5650 level where a break if seen will aim at the 1.5600 level. A break of here will turn attention to the 1.5550 level. Further down, support lies at the 1.5500 level. On the upside, resistance resides at the 1.5750 level with a break aiming at the 1.5824 level. A violation of here will aim at the 1.5900 level and possibly higher towards the 1.5950 level. On the whole, GBP has activated a corrective pull as it looks to extend that weakness in the days ahead.
Get More Power Over Your Trading With Less Hassle
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