FX.co ★ GBP/USD.Continuation of the downwards movement , November 23, 2010

GBP/USD

The negative influence of the Irish crisis is expected to weigh down heavily on the British pound – United States dollar pair. It is forecasted that the pair breaches its trend line later today, signaling of continuation of the downwards movement that it had recently started. A daily close under the sell trigger level of 1.5900 is expected to bring the pair to its first support level at 1.5760, and later on even lower to the strong support level of 1.5550.