GBPUSD: Sells Off On Price Weakness

0

GBPUSD: The pair followed through lower on the back of its Monday losses on Tuesday. This development leaves GBPUSD threatening further downside pressure in the days ahead. On the downside, support lies at the 1.4250 level where a break will turn attention to the 1.4200 level.

Further down, support lies at the 1.4150 level. Below here will set the stage for more weakness towards the 1.4100 level. Conversely, resistance stands at the 1.4350 levels with a turn above here allowing more strength to build up towards the 1.4400 level. Further out, resistance resides at the 1.4450 level followed by the 1.4500 level. On the whole, GBPUSD remains weak and vulnerable to the downside.

GBPUSD

Our latest podcast is titled Digesting Draghi & Fired for the Fed

Follow us on Sticher or on iTunes

Get the 5 most predictable currency pairs

About Author

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.

Comments are closed.