Forex - Chart GBP/USD Update: Poised to break below the 1.2195-1.2205 support area


 07:01 (GMT) 09 Oct

  [Forex Charts]

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Chart GBP/USD Update: Poised to break below the 1.2195-1.2205 support area (0101-PJFZ-C01)

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Asterisk denotes strength of level

07:55 BST - NO significant change, with quiet trade balanced around the 1.2205 low of 1 October and 1.2195 Fibonacci retracement. Oversold intraday studies are flattening, highlighting short-term consolidation, before negative daily readings push prices still lower towards the 1.2105 retracement. Resistance is at 1.2274, and extends to the 1.2300 break level. This area should cap any immediate corrective bounce as sentiment remains Negative.


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