Rozen Trading: GBP/USD How Low Is Low Enough?

Tuesday, January 12, 2016

GBP/USD How Low Is Low Enough?

The pair has been witnessing some devastating developments for the Cable Bulls. This session only GBP/USD went from 1.4560 to 1.4417 and we are not half way through the trading day.

This is the lowest since mid-May 2010. Currently, GBP/USD is trading around it's lowest level around 1.4420-25.

The sharp downtrend has been lowering prices since mid-June last year. All market experts and analysts who forecasted a price above 1.55 for the new year are caught by surprise with this unusual development.

Chart: GBP/USD D1

8 comments:

UnknownJanuary 12, 2016 at 4:39 PM
1.4400 is acting as psychological support level.
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UnknownJanuary 12, 2016 at 6:01 PM
I think it will reach 1.4250 at the very least.
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UnknownJanuary 12, 2016 at 8:53 PM
Great review!
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UnknownJanuary 12, 2016 at 9:42 PM
UK data dragged the sterling down. GBP/USD reached an intraday low at $1.4352.
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UnknownJanuary 13, 2016 at 8:42 PM
Very useful post, thank you.
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UnknownJanuary 13, 2016 at 10:54 PM
The trend is still bearish.
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UnknownJanuary 14, 2016 at 12:56 PM
The pair seems unstoppable.
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UnknownJanuary 17, 2016 at 7:08 PM
It looks like very healthy bearish trend.
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