March 18, 2015
- Daily time frame shows a failed attempt to stay above the cloud.
- Weekly chart shows price breaking the support line of a bearish pattern.
- Month chart is also violating support levels of a rectangle.
- Next target is at 1.44 levels. If that fails to hold Pound usd may slip towards 1.36 levels in the months to come.
- GBPUSD RISING CHANNEL BREAKDOWN
- Price moving in a broad range of about 600 points. Recent low of 8612 is crucial. Falling below it may take price towards the Lower end of the range. Bulls may get a bounce if price does not violate the above mentioned level.
- 20 Week SMA and Daily cloud are crucial for bulls to protect. Closing below these levels should result in bigger falls.