GBPUSD - With continued downside pressure seen the past week, further downside is likely though a correction could occur in the new week. On the other hand, support lies at the 1.6921 level where a break will aim at the 1.6900 levels. A break of here will turn attention to the 1.6850 level. Further down, support lies at the 1.6800 level. Conversely, resistance resides at the 1.7042 level with a break aiming at the 1.7100 level where a violation will aim at the 1.7150 level and possibly higher towards the 1.7200 level. On the whole, GBP continues to retain its downside bias nearer term.
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