Forex - Chart GBP/USD Update: Consolidating the week's bear move at 1.2800


 13:25 (GMT) 08 Nov

  [Forex Charts]

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Chart GBP/USD Update: Consolidating the week's bear move at 1.2800 (0101-PWZC-C01)

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Asterisk denotes strength of level

13:25 GMT - GBP/USD is now taking time to consolidate the week's downside off the 1.2800 level. We are not seeing any solid signs that a new bottom is in, so for now we stick with a short-term bearish view. If cable ends the week below 1.2800 then we look to the 200-day MA at 1.2703 in the week ahead. Resistance is at 1.2877 to 1.2916.


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