The collapse continues as Friday’s bounce in GBPUSD is rapidly being erased. Cable is now down 2% back to a 1.33 handle..
As Bloomberg notes, GBPUSD is consolidating drop to 1985 levels with key support as follows:
- 1st support: 1.3229, June 24 low
- 2nd support: 1.3031, 76.4% Fibo retracement of rally from 1985 to 2007
- 3rd support: 1.3000, psychological support
As FTSE Futures are set to open shortly, begging the question what happens next?
via http://ift.tt/290Ccs9 Tyler Durden