GBP/USD Retains Its Broader Weakness

Forex Trades • Mar 23, 2020 at 7:08 PM EDT

GBP/USD looks to weaken further as it looks to extend its broader downtrend. Support stands at 1.1450 area

GBP/USD looks to weaken further as it looks to extend its broader downtrend. Support stands at 1.1450 area with a break below that level turning focus to the 1.1400 level. Further down, support lies at the 1.1350 level where a violation will turn focus to the 1.1300 level. Below here will open the door towards the 1.1250 level.

On the upside, resistance is located at the 1.1550 with a turn above there allowing for more strength towards the 1.1600 level. Further out, resistance stands at the 1.1650 level followed by the 1.1700 level. On the whole, GBP/USD faces further downside threats in the new week.

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