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Forex pairs in this Article » GBP/USD (Chicago) - GBP/USD cracked down to 1.6323 session lows and fights to maintain the 1.6330 on strong bearish pressure that leaves the pound subdued shortly after US data publications.

GBP/USD Technical Levels

Price action evidences unbearable downward pressure that puts the pair on locked-down mode close to session lows previously reached at 1.6323. Hourly and 4HRS charts evidence a trendless range for the past two weeks while longer-term trends reveal diverging flows with a primary trend pointing down but secondary and short-term manifesting a bullish channel since last July. Offered at 1.6336, the pair oscillates between the supports at 1.6288 (December 5th lows), 1.6237 (November 24th highs) followed by 1.6180 (November 20th highs) and the resistances set at 1.6348 (December 14th highs), 1.6418 (December 12th highs) ahead of 1.6465 (December 10th highs).
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