GBPUSD: Risk Of Bear Pressure Builds Up Below The 1.5505/07 Zone

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 3, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
    Likes Received:
    GBPUSD: Having GBP capped its intra day gains at the 1.5505/07 zone to close lower on a rejection candle on Monday, risk of a follow through lower continues to build. On the downside, support lies at the 1.5350 level with a break of here turning attention to the 1.5300 level. Further down, support lies at the 1.5250 level. Below here will set the stage for more weakness towards the 1.5200 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance

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