British pound continues to fall, but…
Can the 61.8 fibo return stop the pound weakening for a while? This is important technical level for the GBP/USD pair and if this support breaks, pound could continue to fall furder toward 1.5000/1.4800! This is not only 61.8 fibo, this level was previous strong weekly reststnace level from begining of July 2013, just before the July 2013. –> June 2014. pound growth. If the pound find buyers here, 1.5940/50 and 1.6000 will be the first test for the bulls. This could be the interesting triangle here at this pair. How do you see this?
Weekly GBP/USD graph looks scary!
As I already mentioned, if 1.5700/30 brake, this could be a very strong resistance area for the pair, after wich furder decline toward 1.48/1.50 is very possible.