GBPUSD Under Heavy Pressure Ahead Of Brexit Vote…
The GBPUSD remains on the downside as long as 1.2706 – broken support turned resistance – holds on a daily closing basis. Support comes at 1.2615 level. A halt is likely, it may test 1.2706 before attempts to break below 1.2615. Anyway; below 1.2615 aims 1.2480 level, further down, support comes at 1.2355 ahead of 1.2308 levels.
On the upside, resistance comes at 1.2706 level, a break will turn the focus on 1.2756/1.2822 levels. Above 1.2822 sees recovery threats to 1.2926/1.2963 levels before another fall.
Conclusion: The GBPUSD is very bearish below 1.2706 level, above 1.2706 sees limited gains to 1.2756/1.2822 before another fall…
Support: 1.2615, 1.2480, 1.2355, 1.2308
Resistance: 1.2706, 1.2756, 1.2822, 1.2926
Tomorrow: The British parliament will vote on Prime Minister Theresa May’s Brexit plan that she negotiated with Brussels.