GBP/USD Daily Outlook

[Forex-Outlook]

GBP/USD dropped to as low as 1.4595 so far and the break of 1.4783 confirms that whole fall from 1.7043 has resumed. Intraday bias remains on the downside and further decline should now be seen to 61.8% projection of 1.6456 to 1.4783 from 1.5521 at 1.4487 next. On the upside, above 1.4936 minor resistance will argue that a short term bottom is in place and bring more consolidations. But upside should be limited by 1.5125 support turned resistance and bring fall resumption.

Read Full Out-Look by Action Forex