The GBP/USD pair has been trending downwards since the 2nd of November 2015, with the bearish pressures driving the price from as high as 1.5497 to as low as 1.5025.
The currency pair sliced through the 1.52 handle during the course of the session on Friday, reaching the 1.5025 level, to subsequently rise today up to 1.5111. In the event that the buyers keep pressing higher and the price breaks above the level of 1.5138, the pair could rise up to 1.5206 and 1.5261 in extension.
Alternatively, in the scenario where the sellers resume their downward pressures and the price breaks below the lower part of the candlestick, the pair could decelerate down to 1.5025 and 1.4829 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.