GBP USD fell under pressure
12/21/2016 10:37:07 AM
According to forex trading signals, The GBP/USD pair came under new selling pressure during early European session and has now fell to a fresh session low.
At present trading around 1.2337 area, the pair failed to profit from a broad based dollar retracement and retreated all of its early tepid recovery gains to session top near 1.2383 region. The USD pared some of its early profit taking slide and appealed fresh selling pressure around the major.
A follow through selling pressure below 1.2317 area is to be expected to quicken the slip towards 1.2235 horizontal support before the pair finally fall to test 1.2210 round figure mark. On the upside, any recovery momentum beyond session peak level near 1.2383 zone might now meet strong persistence at 50-day SMA near 1.2417 area, which if cleared should help the pair back towards 1.2510 important psychological mark persistence.
FOREX Fundamental Analysis
Written by FxErvin