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GBP/USD's fall continued this week and accelerated to as low as 1.4249 levels.
- Initial bias remains on the downside this week.
- Minor support is seen at $1.4226 levels. The break of 61.8% projection of 1.7190 to 1.4565 from 1.5929 at 1.4307 should now pave the way to 1.3503 low.
- On the upside, above 1.4444 minor resistance levels will turn bias neutral and bring consolidations before staging another fall.
- From the fundamental point of view there is no major events scheduled for today but it will be a key week for UK and US both as CPI data from both the countries are due to release this week. Apart from this UK will also release employment data for the month of December.
