GBPUSD: Cable Continues to Sink?

11 Mar - GDPUSD Daily

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Hi All,

This is just a quick update on GBPUSD. As price breaks below the 1.523 Support level, I’m looking forward to see how it will react to the next Support level around 1.478. If it breaks that support, the next longer term support will be around 1.425.

In an ideal world, I would like price to pull back to 1.523 before it continues to sink – orange path. Well, the world is not always ideal, so let’s see what price has to offer in the near future.

Happy Trading!!

 

Note: Just a reminder that the Americans have change their clocks due to Day Light Saving. The British will change theirs later in the month. Do adjust your trading hours accordingly.

 

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