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British Pound Eventually Broke Critical 1.2795 Support

Discussion in 'Technical Analysis' started by Kaitlin, Oct 4, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Pound accelerated sharply lower after brief hesitation ahead of critical support at 1.2795 (06 July post-Brexit low), which was eventually taken out. The pair hit fresh 31-year low at 1.2754, with strong negative sentiment triggered by loss of 1.2795, expected to spark further weakness.[​IMG]

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