HomeContributorsTechnical AnalysisGBPUSD: Weakens On More Bear Threats

GBPUSD: Weakens On More Bear Threats

GBPUSD: The pair failed to follow through lower on Wednesday causing to decline further. This leaves GBPUSD weak and vulnerable to the downside with eyes on the 1.3300 zone. Support lies at the 1.3350 level where a break will turn attention to the 1.3200 level. Further down, support lies at the 1.3150 level. Below here will set the stage for more weakness towards the 1.3100 level. Conversely, resistance stands at the 1.3400 levels with a turn above here allowing more strength to build up towards the 1.3450 level. Further out, resistance resides at the 1.3500 level followed by the 1.3550 level. On the whole, GBPUSD looks to decline further.

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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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