GBPUSD exams key assist ranges, eyes draw back targets

The GBPUSD continues its run to the draw back and has reached the subsequent key goal space at 1.2535. The low value from February 14 got here in at 1.25343. The low value from final week reached 1.25386. The low value right this moment has simply reached 1.25389.

A transfer under that degree would goal the low value from 2024 at 1.25171. Transfer under that degree and it opens the door for additional promoting.

The transfer to the draw back right this moment received the value exterior of the worth space low at 1.2594, and likewise under the 200-day shifting common (decrease Inexperienced line on the chart above) at 1.2586. One other degree breached was final Friday’s low and the low from March 22 close to 1.2574. That could be a shut threat degree for short-term merchants searching for extra draw back. Staying under retains the bias firmly in command of the bears/sellers.