Forex Forum to Share, Discuss, Communicate and Trade Forex

GBPUSD Continues To Face Downside Pressure Short Term

Discuss Technical Analysis for various currency pairs and share your views. You may also like to check our Forex technical analysis and Forex forecast sections.
Image

GBPUSD Continues To Face Downside Pressure Short Term

Postby FXTechstrategy » Fri Oct 06, 2017 12:29 pm

GBPUSD: The pair continues to hold on to its downside pressure extending it during Friday trading session. Support lies at the 1.3050 level where a break will turn attention to the 1.3000 level. Further down, support lies at the 1.2950 level. Below here will set the stage for more weakness towards the 1.2900 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.3150 levels with a turn above here allowing more strength to build up towards the 1.3200 level. Further out, resistance resides at the 1.3350 level followed by the 1.3400 level. On the whole, GBPUSD continues to face further downside pressure short term
FXTechstrategy
 
Posts: 256
Joined: Sat May 14, 2016 4:52 pm

Return to 2+1 = 3 - Technical Analysis Discussions

 

Who is online on Forum

Registered users: Alexa [Bot], Baidu [Spider], Bing [Bot], Google [Bot], Google Adsense [Bot], Yahoo [Bot]