GBP/USD, the Pound is hammered!

mario urlic forex gbp-usd 11.01.

With a last week braketrue bellow 1.4600, the Pound is literally hammered vs US dollar and it want be easy to recover from this level. On the way up, in my point of view, 1.4650/700 will be a very strong resistance and sellers teritory, if the Pound manage to recover in the first place. The fall stoped at 1.4500 last week and in the beginning of this one, the pair is slightly recovered from 1.4490 to 1.4560 in Monday. What can we see here in the weekly chart is previous stong support level from May/June 2010. at 1.4227 > 1.4346 and that could be the place for the strong buyers if the decline countinues furder. Possible fall bellow that level could lead to more and bigger loss toward 1.3500 in 2016.

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