GBP/USD falls to a low of 1.2064
The technical picture isn’t looking pretty as we look to wrap up the week. Cable has now fallen again as sellers drive price to fresh lows for the year below the 1.2100 handle.
Price is now looking to secure a firm break below the March 2017 low @ 1.2110 as well as the trendline support seen @ 1.2098.
If those levels fail to hold at the close as we end the week, it’s looking like a one-way ticket towards 1.2000 and the 2017 low of 1.1986 next for cable.