GBPUSD: Technical View for Short term with Current Situations

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GBPUSD Weekly Chart Source MT4

             GBPUSD the most attractive pair headed down after recent data on its Employment growth and Inflation reports. The Sentiments by looking at data and the comment of not Increase in interest rates loosen the confidence of Investors in GBPUSD the cable recently rejected from which we could see in Chart ie rejected from 1.4337 levels which is 50% fibbo levels from Brexit talks we could see this rejection or continuation till another 600 pips from current cmp which is 36.2% fibbo levels since last low to recent high as projected in Chart.

As We looking on the levels this cable is very vibrative to the Brexit talks and ongoing negotiations.Secondly The Sharp Rise in Dollar Index also the reason that GBPUSD not breaching those resistances earlier. The downside may continue further till the next clue from Bank Of England.


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