GBPUSD: With GBP selling off to reverse its previous week gains and close lower at the end of the week, further bearishness is likely in the new week. This development leaves it targeting its support located at the 1.5450 level where a violation will call for a run at the 1.5400 level and then the 1.5320 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, the pair must return above the 1.5644 level to reverse its past week losses and create scope for more upside towards the 1.5700 level. Further out, resistance resides at the 1.5900 level and then the 1.6000 level. On the whole, GBP continues to look vulnerable to the downside.
