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Why We Stay Bearish For GBP/USD?

July 14, 2013 1:25 am GMT+0  in Chart Alert

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First time in March 2013 and then over a month back we had mentioned that the previous support has turned into resistance for GBP/USD. Please check this alert for GBPUSD to check on the same.

As we had indicated in the above alert, the resistance had worked again and another fall took place from there. This has been one of the major factor which has been keeping us bearish for GBPUSD and the facts that 1.5000 psychological level was broken again and not only that but price action went below the previous support of 1.4831 to touch 1.4813.

GBP/USD with the support turned into resistance

GBP/USD - Support turned resistance

You may also like to check GBP/USD’s weekly outlook and also the daily analysis.

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