GBP/USD New York Price Forecast: Pounds decimated into 1985 lows

 

 

GBP/USD is melting down in the last seven days as the market is trading to its lowest since 1985. USD strength is taking its toll on GBP/USD. 

 

 

GBP/USD is under heavy selling pressure in 1985 lows trading well below its main SMAs. The sellers are in control and a break below the 1.1797 support can lead to further losses towards 1.11760 and 1.1680 levels, according to the Technical Confluences Indicator. Resistance is seen near the 1.1880, 1.1960 and 1.2100 levels.