Gbp/Usd seems ready for a leg lower
On the weekly chart the RSI and the MACD are both very bearish
A possible target for the pair is the 61.8% fibonacci retracement level
from the last big weekly move up - this level lies just above 1.57
Gbp/Usd Weekly Chart
If we take the last move on the daily chart,
the 61.8% fibonacci expansion level lies around 1.59, and the 100% level below 1.57
The 61.8% level lies below previous lows - but not far below - and will probably be taken out
in a strong move d…
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