GBPUSD Price Analysis: Bears lurking at key resistance, 1.1150 eyed

  • GBPUSD has seen some volatility in the open following Friday's correction.
  • Bears eye a move to test 1.1150 for the days ahead. 

Risk-off markets have kicked off a bout of demand for the greenback that is rising across the board. As per the prior analysis, GBPUSD Price Analysis: Bears move in on a fresh layer of support, where it was explained that the ''price might be expected to correct at this juncture,'' the bulls indeed moved in as follows:

GBPUSD prior analysis


GBPUSD update

It has been a very solid move that could see a move lower out of the coil on the daily chart as follows: 

The resistance around 1.1430/50 will be key in this regard. Pressures in a recovery in the greenback could see the support of 1.1150 give out. 

About the Author

You may also like these