GBP/USD to face additional selling pressure on a dip below 1.3560

FXStreet Insights Team FXStreet

GBP/USD has declined below 1.3600. The pair could extend its slide in case sellers manage to drag it below the key 1.3560 support area, FXStreet’s Eren Sengezer reports.

Sellers to take action with a drop below 1.3560

“The risk perception is likely to remain the primary market drive on Tuesday and geopolitical tensions are unlikely to ease unless Russia takes a step back and reaffirms its intention to look for a diplomatic solution.”

“In case a four-hour candle closes below 1.3560, additional losses toward 1.3540 (static level) and the 1.3510/1.3500 area (static level, psychological level) could be witnessed.”

“On the upside, interim resistance seems to have formed at 1.3580 (static level) ahead of 1.3600 (psychological level) and the 1.3630/1.3640 area (static level, February 18 high).”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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