GBP/USD Continues Downward Testing January Support Levels

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GBP/USD Continues Downward Testing January Support Levels

By Greg Michalowski on March 2, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The GBPUSD is testing key support at the 1.4025 level.

On February 2nd the low was 1.4051. On January 29th the low was 1.4071. On January 27th the low was 1.4025.

The low today has come in at 1.4021 so far and bounced. This is short term positive for the pair and will probably attract some buying. However, a break below the 1.4020 level will likely trigger sellers as intraday bottom pickers, stop themselves out on the key break.

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