GBPUSD forex technical analysis
The pound has fallen through support at 1.5340/45 and faces some minor support at 1.5330, then the 38.2 fib of the 23 Jan swing up at 1.5322. Next is 1.5307/15, from the Feb 17 lows and the 2009 support line. Add the big figure in as well and the tech support adds up to quite a bit in the area.
We've just dropped close to the fib at 1.5326 and held. Look for resistance to come in around the 1.5340/45 level now. The rot has stopped in some of the GBP crosses so that's helping to stem the falls here too.
Ideally I want to see cable trade under 1.5300 as there's a nice bit of support around 1.5250/73. There's the old resistance level at 1.5272, the 2010 support line, and 200 h4 ma at 1.5261, the 50 fib and 55 dma at 1.5251. I still fancy scaling in cable longs and have been waiting for better levels. These look decent enough levels to start
