GBPUSD: Closes Lower On Price Sell Off

Mohammed Isah FXTechstrategy

GBPUSD: The pair faces further weakness as it closed lower on sell off on Thursday. Support lies at the 1.3200 level where a break will turn attention to the 1.3150 level. Further down, support lies at the 1.3100 level. Below here will set the stage for more weakness towards the 1.3050 level. Its daily RSI remains biased to the downside suggesting more declines. Conversely, resistance stands at the 1.3300 levels with a turn above here allowing more strength to build up towards the 1.3350 level. Further out, resistance resides at the 1.3400 level followed by the 1.3450 level. On the whole, GBPUSD remains biased to downside pressure on trend resumption.

Interested in GBPUSD technicals? Check out the key levels

1. R3 1.3579
2. R2 1.3513
3. R1 1.3388
PP 1.3322
1. S1 1.3197
2. S2 1.3132
3. S3 1.3006

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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