FX:GBPUSD   British Pound / U.S. Dollar
GBP/USD ;TECHICAL
FORECAST:BEARISH


GBP/USD remains interesting as it was one of the stronger major pairs ahead of the FOMC’s rate decision a couple weeks ago. But, as the theme of USD strength drove in the aftermath of that meeting, GBP/USD plunged down to fresh lows along with a number of other major pairs.

The big area of nearby support in GBP/USD plots from around 1.3644-1.3678. This is a confluent zone of Fibonacci retracement levels that caught support inflections in March and April of this year after helping to set resistance in January, around the yearly open. A test here can open the door for bullish setups, looking for mean reversion themes to remain.


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Comments

Any update for today?
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