GBP/USD Outlook Remains Lower With Eyes On 1.2690 Zone

GBP/USD outlook remains lower with eyes on 1.2690 zone. The pair retains its broader downtrend supporting its present directional move. Support comes in at 1.2750 level. Further down, support stands at the 1.2690 level where a breach will turn focus to the 1.2650 level. Further down, support is seen at the 1.2600 level. Below here will set the stage for additional weakness towards the 1.2550 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance lies at the 1.2800. A turn above here will allow for further strength towards the 1.2850 level. Further out, resistance comes in at the 1.2950 level and then the 1.3000 level. On the whole, GBP/USD faces further downside pressure medium term.

GBPUSD outlook remains lower with eyes on 1.2690 zone

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.