British Pound (GBP/USD), Daily Chart Analysis 10/1
Implications and Outlook
The British Pound is seen flirting with the Mean Support of $1.3030 following tipping the Key Resistance $1.3285 on 20th of September. A convincing break below the current Mean Support will be leading to a subsequent weakness towards lower Mean Support $1.2921.
Any breaking down journey will certainly support the negative implication and outlook of the currency pair and quicken the risk of the slide even further towards Mean Support $1.2853, and as well as major Key Support $1.2699 established with the completion of the outer Currency Dip $1.2658 on 15th of August.
On the flip side, the current Mean Support may now seem to act as an immediate launch platform to Mean Resistance $1.3180, above in which the GBP/USD pair will most likely strive towards reclaiming the $1.33 handle before eventually completing very fragile open for business Currency Rally $1.3350.
The British Pound is seen flirting with the Mean Support of $1.3030 following tipping the Key Resistance $1.3285 on 20th of September. A convincing break below the current Mean Support will be leading to a subsequent weakness towards lower Mean Support $1.2921.
Any breaking down journey will certainly support the negative implication and outlook of the currency pair and quicken the risk of the slide even further towards Mean Support $1.2853, and as well as major Key Support $1.2699 established with the completion of the outer Currency Dip $1.2658 on 15th of August.
On the flip side, the current Mean Support may now seem to act as an immediate launch platform to Mean Resistance $1.3180, above in which the GBP/USD pair will most likely strive towards reclaiming the $1.33 handle before eventually completing very fragile open for business Currency Rally $1.3350.