HomeContributorsTechnical AnalysisGBP/USD Follows Through Lower On Further Downside Pressure

GBP/USD Follows Through Lower On Further Downside Pressure

GBPUSD follows through lower on further downside pressure with eyes on support located at 1.2600 level. Support lies at 1.2550 as it looks for more weakness. Below that level will turn attention to the 1.2500 level. Further down, support comes in at the 1.2450 level where a break will turn focus to the 1.2400 level. Further down, support lies at the 1.2350 level. On the upside, resistance stands at the 1.2700 with a turn above here allowing for additional strength to build up towards the 1.2750 level. Further out, resistance stands at the 1.2800 level followed by the 1.2850 level. On the whole, GBPUSD looks to weaken further lower on bear threats.

FXAssure
FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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