Extends narrow range to the downside as NY enters
The GBPUSDs first reaction in the early NY session is to extend the narrow trading range to the downside. In the process, the pair is falling below the recent lows from May 6 at 1.5149, from June 1 at 1.5169 and from early September 4 at 1.5156. The low on Friday fell to 1.5134 extending below those lows. Yesterday, the pair held against the 1.5156 level. Trading below that cluster of lows keeps the bears in control.
Forex technical analysis: GBPUSD keeps the downside pressure on…well sort of
