KENJICHEN

0520-GBPUSD Analysis

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

GBPUSD
Pound still weak even though got bounce around 1.2710 but still can't reverse downward pressure.

Therefore, we should continue considering short position around the resistance area, which is around 1.2770 and target 1.2730 at least.

If pound get little correction but not above 1.2790 in US market, then GBPUSD may plunge in following days.

Support: 1.2730 / 1.2670
Resistance: 1.2774 / 1.2800
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