Mon, Mar 27, 2023 @ 19:12 GMT
HomeContributorsTechnical AnalysisGBPUSD: Hesitates But Retains Short Term Downside Pressure

GBPUSD: Hesitates But Retains Short Term Downside Pressure

GBPUSD: With the pair retaining its downside pressure, more weakness is likely. This view remains valid despite its price hesitation. Support lies at the 1.2350 level where a break will turn attention to the 1.2300 level. Further down, support lies at the 1.2250 level. Below here will set the stage for more weakness towards the 1.2200 level. Conversely, resistance stands at the 1.2450 levels with a turn above here allowing more strength to build up towards the 1.2500 level. Further out, resistance resides at the 1.2550 level followed by the 1.2600 level. On the whole, GBPUSD continues to face downside pressure short term.

Mohammed Isah is a co-founder, technical strategist and head of research at 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

Featured Analysis

Learn Forex Trading