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.
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.