KENJICHEN

0419-GBPUSD Analysis

Short
FX:GBPUSD   British Pound / U.S. Dollar

GBPUSD
As pound breakout the consolidation triangle pattern, the downward pressure continue to make GBPUSD lower and lower, 1.30 level is able to lose.

The relative support level is around at 1.2960 and it's a second pivot point for pound weakness after breaking 1.3070.

However, GBPUSD is getting lower about 3 trading days, and it will need to be aware of the resist of 1.30 level today.

So, I recommend short GBPUSD at 1.3020 around the resistance area, and target 1.2985 for short-term and more for next week.

Support: 1.2985 / 1.2960
Resistance: 1.3020~1.3030


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