GBPUSD: Having failed to sustain its intra day gains to close flat on Thursday and followed through lower during early Friday trading, further bearishness is envisaged. Support lies at the 1.4500 level where a break will turn attention to the 1.4450 level. Further down, support lies at the 1.4400 level. Below here will set the stage for more weakness towards the 1.4350 level. Resistance stands at the 1.4600 levels with a turn above here allowing more strength to build up towards the 1.4650 level. Further out, resistance resides at the 1.4700 level followed by the 1.4750 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the whole, GBPUSD faces downside pressure on further price weakness.

 

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