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GBPUSD: Triggers Correction

GBPUSD: With GBP triggering a correction during Monday trading session, we expect more weakness to occur in the days ahead. On the upside, resistance resides at the 1.5900 level with a break aiming at the 1.5950 level. A violation of here will aim at the 1.6000 level and possibly higher towards the 1.6050 level. Its daily RSI is turning lower supporting its current price action. On the downside, support lies at the 1.5800 level where a break if seen will aim at the 1.5750 level. A break of here will turn attention to the 1.5700 level. Further down, support lies at the 1.5600 level. On the whole, GBP continues face downside pressure on correction.

GBPUSDproDaily

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