GBPUSD Targets Further Upside On Loss Of Downside Momentum

17 June 2016, 04:10
FXTechstrategy
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GBPUSD: The pair looks to build up on its recovery after reversing all of its intra day losses on Thursday. On the downside, support lies at the 1.4200 level where a break will turn attention to the 1.4150 level. Further down, support lies at the 1.4100 level. Below here will set the stage for more weakness towards the 1.4050 level. Conversely, resistance stands at the 1.4350 levels with a turn above here allowing more strength to build up towards the 1.4400 level. Further out, resistance resides at the 1.4450 level followed by the 1.4500 level. On the whole, GBPUSD threatens further upside pressure nearer term

 

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