GBPUSD Daily Outlook : Downside Prevails
Short positions below pivot 1.3500 with targets 1.2785 & 1.2450 in extension.
Above 1.3500 look for further upside with 1.4000 & 1.5000 as targets.
A break below 1.2785 would trigger a drop towards 1.2450. The pair has completed a pullback towards June 2009 low at 1.35, which now acts as a resistance.
Supports and resistances :
1.5000 **
1.4000 **
1.3500 ***
1.2979 Last
1.2785 ***
1.2450 **
1.1670 **
Money management in priority.
Above 1.3500 look for further upside with 1.4000 & 1.5000 as targets.
A break below 1.2785 would trigger a drop towards 1.2450. The pair has completed a pullback towards June 2009 low at 1.35, which now acts as a resistance.
Supports and resistances :
1.5000 **
1.4000 **
1.3500 ***
1.2979 Last
1.2785 ***
1.2450 **
1.1670 **
Money management in priority.