Open trading account 
Cable has broken March low (1.4635) and 1.46 level to post new five-year lows (1.4587) before it bounced from Weekly Support 3 and staged 80 pip profit taking rally. It is now consolidating around 1.4650 level and even if it won't close below the mentioned low, it will still most certainly be lowest weekly close in five years. That points to further losses in the week ahead, with pre-election uncertainty not helping.
al_dcdemo's Blog
GBP/USD to remain in recent range
Monthly chart:
Current medium-term downtrend has broken longer-term uptrend, which is marked on the chart as trendline that supported the pair in 2009, 2010 and 2013. After trading down to below 1.50 in January, the pair reversed all sub 1.55 losses in February and even broke above the big level. At that point it looked like a bottom is in place, but the breakout proved to be fake as the pair fell all the way to 1.4635, breaking 2013 low in the process. Next stronger support now comes near May 2…
Current medium-term downtrend has broken longer-term uptrend, which is marked on the chart as trendline that supported the pair in 2009, 2010 and 2013. After trading down to below 1.50 in January, the pair reversed all sub 1.55 losses in February and even broke above the big level. At that point it looked like a bottom is in place, but the breakout proved to be fake as the pair fell all the way to 1.4635, breaking 2013 low in the process. Next stronger support now comes near May 2…