Disappointing news about the crash of Brexit talks between the UK's two biggest political parties and rising pressure on PM May would step down, likely in June, further sores pound's sentiment.
Cable fell further on Friday and holding just above new low at 1.2736 (the lowest since mid-January), with bears establishing below broken key Fibo support at 1.2773 (61.8% of 1.2397/1.3381, also 14 Feb higher low).
Close below the latter will generate strong bearish signal for further acceleration lower.
Bears so far showed no reaction on oversold daily studies, but some adjustment should be anticipated in coming sessions.
Res: 1.2773; 1.2798; 1.2847; 1.2865
Sup: 1.2736; 1.2700; 1.2668; 1.2629
Interested in GBPUSD technicals? Check out the key levels
- R3 1.292
- R2 1.2891
- R1 1.2845
- PP 1.2816
- S1 1.277
- S2 1.2741
- S3 1.2695
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.