GBPUSD Approaching Key Support, Looking for Buy Signal


Chart in Focus: Daily GBPUSD

The GBPUSD found some support today and gained back slight ground following last week's significant move lower. We can see there’s a zone of support from 1.6990 to about 1.6920, which the market is currently in the middle of. We haven’t gotten an obvious price action buy signal yet, but we continue to be on the lookout for one from near current levels down to about 1.6920 in the near-term and then a bit longer-term down near 1.6820 – 1.6690 if the market makes it down that far.

gbpusd-july-28-2014

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