Mihai_Iacob

GbpUsd- Where can it fall

Short
FX:GBPUSD   Britisches Pfund / US-Dollar
Like I said last week, 1.1750-1.18 is very strong resistance for GbpUsd and after a corrective rally in that zone, the pair fell hard.
My both targets for this drop were reached and now the pair is sitting on the very important support of 1.14.
So, the important question is: will this support be broken?
Considering the fundamental context, my opinion is Yes.
In this situation, GbpUsd can drop even under 1.1 and only sustain buying power above 1.16 would put the pair in a more favorable perspective.
Eventual rallies towards 1.15 should be sold

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