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GBPUSD: Weakens On Correction

GBPUSD: GBP weakened on Thursday leaving risk of a move further lower on the cards. On the upside, resistance resides at the 1.5400 level with a break aiming at the 1.5450 level. A violation will aim at the 1.5500 level and possibly higher towards the 1.5550 level. On the downside, support lies at the 1.5300 level where a break if seen will aim at the 1.5250 level. A break of here will turn attention to the 1.5200 level. Further down, support lies at the 1.5150 level. On the whole, GBP looks to decline further following its Thursday weakness with eyes on its key support at the 1.5166 level.

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