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GBPUSD: Remains Vulnerable To The Downside

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

GBPUSD: The pair continues to retain its downside pressure as it reversed its Monday gains to close on Tuesday. Support lies at the 1.2800 level where a break will turn attention to the 1.2750 level. Further down, support lies at the 1.2700 level. Below here will set the stage for more weakness towards the 1.2650 level. Conversely, resistance stands at the 1.2900 levels with a turn above here allowing more strength to build up towards the 1.2950 level. Further out, resistance resides at the 1.3000 level followed by the 1.3050 level. On the whole, GBPUSD continues to face downside risk.


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This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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