GBP/USD Key Support at 1.5030

The Pound found strong demand at the aforementioned 1.4873 level and has extended a rally towards the previous high just under 1.5200.
Near term bias is slightly turned to the upside as a correction in the pair seems imminent. Medium to longer term continues to be set to the downside on deficit and political concern.
In the [...]

GBP/USD Support at 1.4873

The Pound extended losses below the 1.4900 level following negative UK economic data.
Manufacturing and industrial production were both below analysts estimates, printing at -0.9% and -0.3% compared to the +0.3% and +0.2% consensus, respectively.
GBP/USD dropped to 1.4873, the 78.6% Fib. retracement level (1.4785 to 1.5197), and is finding slight demand in this area.
Bias remains to [...]

Sterling under more pressure

Ongoing speculation that profits earned overseas by Japanese companies is finding its way home before the fiscal year-end is lifting the yen on Tuesday.
At the same time Asian stocks are commemorating the one-year anniversary of the lowest closing point of the bear market for stocks with a down day, also providing a knee-jerk bid to [...]

GBP/USD Plummets to 10 Month Low – Update

From current levels, 1.4885, the pair finds initial resistance at 1.937, followed by 1.4984, and 1.5031.

GBP/USD resistance seen at 1.5461

From current levels, 1.5310, the pair finds initial resistance at 1.5350, followed by 1.5399, and 1.5477.

GBP/USD eyes 1.5350

From current levels, 1.5580, the pair finds initial resistance at 1.5660, followed by 1.5740, and 1.5805.

GBP/USD decline extends to 1.5850

From current levels, 1.5874, the pair finds initial resistance at 1.5979, followed by 1.6017, 1.6056 and 1.6112.

GBP/USD rebound extends to 1.6245

From current levels, 1.6235, the pair finds initial support at 1.6175, followed by 1.6160 and 1.6109.

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