Daily Technical Strategist on GBPUSD

GBPUSD: Continues To Face Downside Threats

GBPUSD: With GBP extending its weakness the past week, further downside pressure is likely. As at the time of this analysis, it was seen pressuring the downside suggesting more weakness. On the downside, support lies at the 1.5500 level where a break if seen will aim at the 1.5450 level. A break of here will turn attention to the 1.5400 level. Further down, support lies at the 1.5350 level. On the upside, resistance resides at the 1.5600 level with a break aiming at the 1.5650 level. A violation of here will aim at the 1.5700 level and possibly higher towards the 1.5750 level. On the whole, GBP continues to remain on the Offensive