GBPUSD: Sees More Bearish Momentum.
GBPUSD: The pair continues to look vulnerable to the downside following its strong sell off on Monday. This development leaves GBP targeting further declines towards the 1.6000 level, its key psycho level. Below here will aim at the 1.5774/78 level with break of there turning attention to the 1.5457 level. Alternatively, the pair will have to break and hold above the 1.6308 level to end its present bearish tone and trigger its medium term uptrend. This if seen could bring further upside towards the 1.6350 level with a cut through here allowing for more gains towards the 1.6400 level. On the whole, GBP remains vulnerable to the downside.
