GBP Expands its decline versus USD
1/11/2018 12:50:18 PM
According to FX market activities, the GBPUSD pair expands its decline into a second day today, looking at risk below a break of the key confluence zone near 1.3486 levels.
GBPUSD keeps on to merge/ease lower from just below recent highs at 1.3636/47, made in September and January. The cross is bid above the 1.3305 level. Intraday dips lower should find first support around 1.3477. It has lately broken above the 2016 downward tendency and this has introduced scope to the 1.3660/75 September high and double Fibonacci retracement.
FOREX market analysis by FxErvin.