GBP/USD continues to face downside pressure following a reversal of its Friday gains during Monday trading session. It looks to extend that weakness in the days ahead.
Support lies at the 1.5100 level where a break will turn attention to the 1.5050 level. Further down, support lies at the 1.5000 level. Below here will set the stage for more weakness towards the 1.4950 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance stands at the 1.5200 levels with a turn above here allowing more strength to build up towards the 1.5250 level. Further out, resistance resides at the 1.5300 level followed by the 1.5350 level. On the whole, GBP/USD continues to face downside pressure on price sell off.
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