GBP/USD Looks To Decline Further Near Term

GBP/USD Looks To Decline Further Near Term

FXTechstrategy Team  | Feb 11, 2019 07:39PM ET

GBP/USD looks to decline further nearer term on bear pressure. Support is seen at the 1.2800 level. Further down, support comes in at the 1.2750 level where a break will turn focus to the 1.2700 level. Further down, support lies at the 1.2650 level. Below here will set the stage for more weakness towards the 1.2600 level. On the upside, resistance stands at the 1.2900 with a turn above here allowing for additional strength to build up towards the 1.2950 level. Further out, resistance stands at the 1.3000 level followed by the 1.3050 level. On the whole, GBP/USD faces further downside pressure on more weakness.


GBP/USD, Daily Chart

FXTechstrategy Team

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