GBPUSD under heavy pressure, potential for further drop

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Brittiska pund/Amerikanska dollar (FX:GBPUSD)

FX:GBPUSD Brittiska pund/Amerikanska dollar

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GBPUSD remains under strong bearish pressure from our descending resistance line and a further drop could occur below 1.3910 resistance (Fibonacci retracement, horizontal swing high resistance, descending resistance) for a push down towards 1.3632 support (Fibonacci retracement, horizontal pullback support).

RSI (34) sees our descending resistance line correspondingly holding price down really well.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

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