GBPUSD 1.5195 – bearish – The 1.5263 area should cap bounces
GBPUSD remains in a downtrend making a series of lower highs and lower lows since June 2015. While the 1.5263 high (November 13, 2015) caps, further weakness is expected to open 1.5108 (Oct 1, 2015 low) ahead of the 1.5027 swing low (November 6, 2015). However, an upside break above 1.5263 would caution bears and signal scope for further gains towards 1.5360 (November 3, 2015 low).
Outlook:
Intraday: bearish
Daily: bearish
Weekly: bearish
GBPUSD remains in a downtrend making a series of lower highs and lower lows since June 2015. While the 1.5263 high (November 13, 2015) caps, further weakness is expected to open 1.5108 (Oct 1, 2015 low) ahead of the 1.5027 swing low (November 6, 2015). However, an upside break above 1.5263 would caution bears and signal scope for further gains towards 1.5360 (November 3, 2015 low).
Outlook:
Intraday: bearish
Daily: bearish
Weekly: bearish
