GBPUSD: GBP tumbled further lower during Thursday trading session leaving risk of more weakness on the cards. It now eyes a move lower towards its nearby support located at the 1.5241 level. On the downside, support lies at the 1.5200 level with a break of here turning attention to the 1.5150 level. Further down, support lies at the 1.5100 level. Below here will set the stage for more weakness towards the 1.5050 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance resides at the 1.5300 level. A violation of here will clear the way for a run at the 1.5350 level. Further out, resistance resides at the 1.5400 level followed by the 1.5450 level. On the whole, GBP looks for more weakness towards the 1.5241/00 zone.
25th April 2016
GBPUSD Plunges On Further Bearishness, Eyes 1.5241/00 Zone
