Daily Technical Outlook: GBPUSD (Feb 7)
GBPUSD is trading below the main support level we were targeting in our latest update around 1.2420. This level remains the key towards the short term direction for the pair. Where a break below it will confirm a double top pattern and may extend the downside for the pair towards 1.2250 areas.
Short term scenarios:
Bearish breakout below 1.2420 key level clears the way for more downside. Targets start at 1.2260.
Short term key support and resistance
1.2420 1.2315 1.2255
1.2465 1.2515 1.2540
Short term scenarios:
Bearish breakout below 1.2420 key level clears the way for more downside. Targets start at 1.2260.
Short term key support and resistance
1.2420 1.2315 1.2255
1.2465 1.2515 1.2540
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