Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/USD came under strong bearish pressure and retreated under 1.38 yesterday as part of a pullback from the 1.3875-80 resistance area.
GBP/USD,D1
Pivot: 1.3868
Analysis:
While the price is below 1.3960, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3868
- Take Profit 1: 1.3570
- Take Profit 2: 1.3430
Alternative scenario:
If the level 1.3960 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3960
- Take Profit 1: 1.4090
- Take Profit 2: 1.4240
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4240 | 1.3570 |
| 1.4090 | 1.3430 |
| 1.3960 | 1.3350 |
