GBP USD Continuing Daily lows in Forex market
8/10/2017 3:54:27 PM
The pound has continued the downside on Thursday, now pulling GBP/USD to test the area of daily lows in the 1.2983 area ahead of the opening bell in the Old Continent.
Cable is crossing the lower end of the recent range amongst a clear bearish note after being failed from last week’s fresh cycle tops near 1.3268.
As mentioned above the pair is losing 0.24% at 1.2973 and a break of 1.2948 would open the door to 1.2931 and ultimately 1.2927. On the other hand, the immediate up barrier arises at 1.3005 seconded by 1.3061 and ultimately 1.3103.
FOREX market analysis by FxErvin.