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Forex pairs in this Article » GBP/USD (Barcelona) - The GBPUSD didn't hold above 1.5750/60 for long, and downside pressure pushed the pair for a new plunge that is approaching the 1.5700 psychological level. As of writing, the market trades at 1.5712.

The daily candlestick is close to fully retrace Friday's gains as it is also almost pointing to a 100-pip drop.

"With 4h studies holding in the negative territory and 38.2% of 1.5630/1.5843 rally being retraced so far, near-term risk of losing 1.5740/00 supports that would bring near-term bears back in play, for possible re-visit of 1.5630/00", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to the need of clearance of 1.5877 and close above here, with regain of minimum 1.5900 to confirm reversal pattern.
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