Continuum_Economics

GBP/USD: Short-term consolidation - risk of further losses

FX:GBPUSD   British Pound / U.S. Dollar
Support is appearing at 1.3860, whilst oversold intraday studies unwind, with prices now pressuring 1.4000. Just higher is the 1.4026 high of 26 February, but the falling Tension Indicator is expected to limit any tests/break of here in fresh selling interest. In the coming sessions, consolidation is expected to give way to fresh losses, with a later break below 1.3860 opening up the the 1.3825 retracement. Meanwhile, a close above 1.4026, if seen, would delay downside tests and turn sentiment cautiously Positive as focus then turns to 1.4100.
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