GBPUSD bear trend extension threat A low level, modest bounce effort from another new setback low on Monday, to leaves negative pressures intact whilst
GBPUSD bear trend extension threat
A low level, modest bounce effort from another new setback low on Monday, to leaves negative pressures intact whilst even below minor resistance at 1.6085.
The Friday break below the 1.6050 low and the 50% retrace at 1.6005, psychological 1.6000, leaves risk still lower into this week.
We now see risk to the 1.5854 weekly swing low from Q4 2013”.
Below here, see threat lower into mid-October, to aim for chart/ 61.8% retrace support at 1.5750/20.
The 8-day RSI, short-term momentum is negative, but not OS, leaving scope to go still lower
WHAT CHANGES THIS?
Above 1.6160 eases bear risks; through 1.6288 signals a neutral tone, only shifting positive above 1.6415/20.
