Source: PaxForex Premium Analytics Portal, Technical Insight
Downside risks remain, as long as price remains under our strong resistance at 1.4100
GBP/USD,D1
Pivot: 1.3973
Analysis:
While the price is below 1.4240, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3973
- Take Profit 1: 1.3800
- Take Profit 2: 1.3670
Alternative scenario:
If the level 1.4240 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4240
- Take Profit 1: 1.4380
- Take Profit 2: 1.4500
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4500 | 1.3800 |
| 1.4380 | 1.3670 |
| 1.4240 | 1.3550 |
