FxWirePro: GBP/USD outlook weaker on renewed downside pressure
The Sterling remained in strong bearish tone against dollar on Monday as selling interest continued as the pair was weighed down after investors were concerned that Britain will make a hard exit from the European Union. …
The Sterling remained in strong bearish tone against dollar on Monday as selling interest continued as the pair was weighed down after investors were concerned that Britain will make a hard exit from the European Union.
Currently, the currency pair is trading at 1.2391 levels, it is set to decline further towards 1.2300 and later 1.2250 levels in the short term.
To the upside, the strong resistance can be seen at 1.2515, a break above this level would expose to cable to next resistance level at 1.4600.
To the downside immediate support can be seen at 1.2344, a break below will open the door towards next level at 1.2250.
