GBP USD Fell through the handle in Forex market
9/27/2017 9:08:01 AM
The GBP/USD pair speeded up weakness on a break below 1.3403 psychological support, now winding near two-week troughs of 1.3374, as the bears eye a break below 50-EMA support placed at 1.3353.
Below 1.3403 support the pair stays on the way to speed up the reduction towards 38.3% Fibonacci retracement level support near the 1.3327-22 area. On the upside, any up-move back above 1.3448 level might now provoke strong persistence near the 1.3485-1.3505 area, which if cleared might cause a short-covering rebound back towards 1.3570-78 horizontal persistence.
FOREX market analysis by FxErvin.