GBPUSD Continues To Face Downside Pressure
GBPUSD: With the pair seen extending its weakness,
more decline is expected. On the downside, support lies at the 1.4450
level where a break will turn attention to the 1.4400 level.
down, support lies at the 1.4350 level. Below here will set the stage
for more weakness towards the 1.4300 level. Its daily RSI is bear and
pointing lower suggesting further weakness.
Conversely, resistance stands at the 1.4500 levels with a turn above here allowing more strength to build up towards the 1.4550 level. Further out, resistance resides at the 1.4600 level followed by the 1.4650 level. On the whole, GBPUSD now looks to extend its weakness following its Tuesday sell off.