GBPUSD: With GBP closing higher on Monday, further upside is envisaged. While holding above its year – to-date-low at 1.5589 level, recovery risk remains. On the downside, support lies at the 1.5600 level where a break will aim at the 1.5550 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5400 level. Its weekly RSI is bearish and pointing lower supporting this view. Resistance resides at the 1.6050 level with a break aiming at the 1.6100 level. A violation will aim at the 1.6150 level and possibly higher towards the 1.6200 level. On the whole, GBP continues to retain its broader downside bias medium term. FX Tech Strategy FX Tech Strategy FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012. View All Post By FX Tech Strategy Forex Bits share Read Next US Decoupling from Developed World Scott Smith 8 years GBPUSD: With GBP closing higher on Monday, further upside is envisaged. While holding above its year - to-date-low at 1.5589 level, recovery risk remains. On the downside, support lies at the 1.5600 level where a break will aim at the 1.5550 level. A break of here will turn attention to the 1.5500 level. Further down, support lies at the 1.5400 level. Its weekly RSI is bearish and pointing lower supporting this view. Resistance resides at the 1.6050 level with a break aiming at the 1.6100 level. A violation will aim at the 1.6150 level and possibly higher towards the 1.6200… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
