Following last Friday’s sell-off, price anchored itself below 1.60 support/resistance, continuing the bear trend from 1.615 which started 1 week ago. Ahead of us we have 1.583 (previous swing low on 16th Nov) acting as interim support against further downside. Stochastic reading is now entering Oversold region, very close to the previous lows also on 16th Nov which was the beginning of the price recovery back towards 1.64. Looking purely at this, it is hard to see GBP/USD breaking below current support. We also have Weekly Pivots (not shown on chart) S1 and S2 at 1.576 and 1.566 respectively, making further efforts ... (full story)