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15 May 2020
GBP/USD Price Analysis: Pound sinks further in 6-week lows, bearish
- GBP/USD is under heavy bearish pressure near 6-week lows.
- The level to beat for sellers is the 1.2100 figure.
GBP/USD daily chart
GBP/USD is trading below the main SMAs on the daily chart suggesting a bearish bias as the market is under heavy selling pressure in 6-week lows.
GBP/USD four-hour chart
GBP/USD is trading down below its main SMAs on the four-hour chart as the bears are nearing the 1.2100 figure. Sellers remain in full control of GBP/USD which is seen keeping printing lower prices and reach the 1.2100 and 1.1950 levels in the medium-term. Occasional bullish attempts could find resistance near 1.2200 and 1.2300 levels.
Resistance: 1.2200, 1.2300, 1.2400
Support: 1.2100, 1.1950, 1.1900
Additional key levels