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GBP/USD: Key-pivotal support 1.5854/1.5752 could be next - JPMorgan

FXStreet (Bali) - GBP is looking increasingly vulnerable against the US Dollar, notes Thomas Anthonj, FX Strategist at JP Morgan.

Key Quotes

"The failure of Cable to defend 1.6002 (50 % on big scale) illustrates this weakness and suggests that key-pivotal support between 1.5854 and 1.5752 could be tested next."

"Below, we'd even see 1.5374 (76.4 % on big scale) in focus. Only a break above 1.6317 (daily trend) would ease the down-pressure in favor of a stronger recovery to 1.6525/68 (pivot/int. 50 %)."

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