According to the ICN.com analyst team, “The USD/JPY is now stable above Linear “A slight improvement on hourly studies is insufficient for a stronger recovery of the GBP/USD for now, as the 4h structure remains strictly negative, along with overall bearish picture that describes the latest rally as corrective and preceding fresh weakness.” warns Slobodan Drvenica, an analyst at Windsor Brokers Ltd.
At the time of writing, the cross is recording a massive decline of -0.76% Wednesday and the ICN.com analyst team points to support at 1.5525 (previous supports or 1.5600 and 1.5580 were broken).
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