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GBPUSD: Bearish, Remains Vulnerable To The Downside

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GBPUSD: Bearish, Remains Vulnerable To The Downside

Postby FXTechstrategy » Thu Mar 09, 2017 1:34 pm

GBPUSD: The pair continues to face further weakness following more declines on Wednesday. Support lies at the 1.2150 level where a break will turn attention to the 1.2100 level. Further down, support lies at the 1.2050 level. Below here will set the stage for more weakness towards the 1.2000 level. Conversely, resistance stands at the 1.2250 levels with a turn above here allowing more strength to build up towards the 1.2300 level. Further out, resistance resides at the 1.2350 level followed by the 1.2300 level. On the whole, GBPUSD continues to face downside threats but with caution.

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