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GBP/USD 1.9506 - 12 February
GBP/USD Open 1.9487 High 1.9555 Low 1.9405 Close 1.9504

After unconvincing small recovery of the Sterling against the US Dollar, today it headed downwards. First support is expected at the bottom from 7 February 1.9390, followed by 1.9300 and 1.9120, which is 49.5% correction of the big climb 1.7055 - 2.1155. First resistance is the top from 7 February at 1.9620, which is 61.8% correction of the drop 1.9790 - 1.9390, followed by 1.9790, where the above drop started, and the strong 1.9940.
Technical resistance levels: 1.9620 1.9790 1.9940
Technical support levels: 1.9390 1.9300 1.9120

Trading range: 1.9520 - 1.9435
Trend: Downward
Sell at 1.9506 SL 1.9536 TP 1.9446