GBP/USD Technical Analysis: Weakness to Continue
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.
GBP/USD 4-hr Chart
GBP/USD Daily Chart
GBP/USD Weekly Chart
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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.