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GBPUSD trend line break suggests further downside

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    We have seen no specific trigger to GBPUSD huge drop as there has been no U.K. data to digest except for Services PMI. Recent BREXIT pools suggest the vote could go wither way as in the recent polls there are 43 % of those who support UK in EU while 41 % think that UK will be better without EU (Source: Financial times ). So, fundamentally it seems that bearish bias is all over the GBPUSD market and technical analysis supports the bearish bias too. 1.4130 failed to hold the price substantially

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