novvoll12
Short

GBPUSD bearish – Posts new 7-month lows

FX:GBPUSD   British Pound/U.S. Dollar
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GBPUSD             bearish – Posts new 7-month lows

GBPUSD             has submarined lower to post new 7-month lows towards 1.4887 (76.4% of the 1.4565/1.5929 rise) ahead of the 1.4856 minor higher low (April 21, 2015).The 1.5136 resistance (November 25, 2015 high) should cap near-term bounces. An upside break above the latter is needed to caution bears and prolong the consolidation under the 1.5336 area (November 19, 2015 high) near the 200 day moving average currently at 1.5321.

Outlook:
Intraday: bearish
Daily: bearish
Weekly: bearish
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