GBP/USD, Pound strongly down on CPI!
I wrote in my previous analysis from March 18. that, the Pound is on a big test at the resistance level 1.4500 and that the buyers will have a problem to break true. Well, that level reject the pair again exactly at my pointed trend line, in wich I have focused for a long time here. After the Pound slided back from that level, 1.4400 stop the fall for one day, but it was broken on the other one, after wich has become resistance today. The CPI data worst then expectation just give an additional bearish momentum for the Pound and the fall continued strongly. Here is a minnor support at 1.4200/20 now, but the sellers are aiming lower support at 1.4000 again for sure. This is already a huge fall and the consolidation is possible now here at aprox 1.4200!? Brexit referendum fear and terrorism attack in Brussel are enough resons for investors to turn back in to the US dollar these days. It’s very interesting to follow the moves with GBP/USD for me, how about you?