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Gbp/Usd is in danger of falling much further
On the daily chart we find that Gbp/Usd has broken below April 2015 lows of 1.4580
1.45 remains now only as a psychological level
if it does not hold - then the next technical level is around 1.42 - another substantial way lower!
Fundamentally, much like Usd/Jpy, the move lower does not make any sense:
projections and economic data are better, and Gbp should be moving up like Eur/Usd
Maybe a lower level is required, though ... we shall see
I will temp…
On the daily chart we find that Gbp/Usd has broken below April 2015 lows of 1.4580
1.45 remains now only as a psychological level
if it does not hold - then the next technical level is around 1.42 - another substantial way lower!
Fundamentally, much like Usd/Jpy, the move lower does not make any sense:
projections and economic data are better, and Gbp should be moving up like Eur/Usd
Maybe a lower level is required, though ... we shall see
I will temp…