GBPUSD: Bearish, Remains Vulnerable To The Downside

9 March 2017, 14:24

GBPUSD: The pair continues to face further weakness following more declines on Wednesday. Support lies at the 1.2150 level where a break will turn attention to the 1.2100 level. Further down, support  lies at the 1.2050 level. Below here will set the stage for more weakness towards the 1.2000 level. Conversely, resistance stands at the 1.2250 levels with a turn above here allowing more strength to build up towards the 1.2300 level. Further out, resistance  resides at the 1.2350 level followed by the 1.2300 level. On the whole, GBPUSD continues to face downside threats but with caution.

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