GBPUSD Breaks the Sideways Range of 2.5 Years

February 24, 2013 in Chart Alert

GBP/USD has been in a very volatile sideways range between 1.5233 and 1.6746 for past two and a half years. The last week’s break below 1.5233 comes as a break of that range and certainly makes the bearish outlook strong. On the other hand the support of approaching 1.5000 level may try to balance the bearish outlook and cause some sideways move over 1.5000. Please check GBP/USD weekly chart:

GBP/USD weekly chart

GBP/USD breaks below the range


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