GBP under pressure versus USD in Forex market
10/16/2017 9:42:36 AM
The GBPUSD pair unsuccessful to take out 1.3305 handle on some instances in Asia, now rotating in the familiar range near 50-EMA at 1.3290.
A considerable break below 1.3240-55 immediate support is probable to speed up the reduction even below the 1.3210 handle towards 22.6% Fibonacci retracement level support near the 1.3177 area ahead of the 1.3133-25 area. On the other hand, a strong follow over buying interest beyond 1.3344 immediate strong hurdle would is probable to boost the pair towards the 1.3405 handle on the way 60.8% Fibonacci retracement level near 1.3417-25 area.
FOREX market analysis by FxErvin.