Daily Technical Strategist on GBPUSD
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GBPUSD: Weakens, Vulnerable Below Key Resistance
GBPUSD: With GBP seen weak and vulnerable on the back of its rejection candle print on Friday, more decline cannot ruled out. On the downside, support lies at the 1.4850 level where a break if seen will aim at the 1.4800 level. A break of here will turn attention to the 1.4700 level. Further down, support lies at the 1.4650 level. Its daily RSI is turning lower supporting this view. On the upside, resistance resides at the 1.5000 level with a break aiming at the 1.5050 level. A violation will aim at the 1.5100 level and possibly higher towards the 1.5150 level. On the whole, GBP remains vulnerable below the 1.5052 level.