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GBP/USD further drop expected
The rate is trading in the red and is expected to drop further in the upcoming period. Personally, I would have liked to see a retest of the broken support levels before will resume the corrective phase. The USD is very strong on the short term as the USDX has managed to rebound after the Friday’s drop and it could reach new highs in the upcoming hours. GBP/USD is almost to escape from the extended sideways movement, so it could drop towards the 1.35 level. USDX approaches the 92.00 psychological level, a valid breakout above this static resistance will confirm a further increase. I’ve said in the previous week ... (full story)
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