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GBP/USD Technical Analysis: Weakness to Continue

GBP/USD Technical Analysis: Weakness to Continue

Paul Robinson, Strategist

GBP/USD Technical Highlights:

  • GBP/USD 4-hr chart shows clean bearish structure
  • Daily support and 200-day just under 13700
  • Move towards long-term support at 13500 could unfold

Cable is poised to trade lower as a clean pattern is emerging on the 4-hr chart. This could lead GBP/USD to trade down to the 13670-area soon, with broader the potential of trading down to weekly support at 13500 dating to 2009.

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GBP/USD 4-hr Chart

gbpusd 4-hr chart

GBP/USD Daily Chart

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GBP/USD Weekly Chart

gbpusd weekly chart

GBP/USD Charts by TradingView

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---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.