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GBPUSD rebound pauses, bearish outlook remains

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The recent rebound from multi-year lows has stalled today.The RSI has failed to continue its rise and paused just below 50, suggestingupside momentum has weakened. GBPUSD has staged a steady rally from a low of1.3834 reached earlier this week (February 29) and rose steadily all week toreach a high of 1.4193 on Thursday. The key level at 1.4100 is now a target anda break below this would bring 1.4000 into sight. Failure to support at thislevel would indicate that this week’s corrective move has

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