Will GBPUSD Go Below 1.37900?


  The Pound opened the week on a good foot as it showed gains in London session opening ,Testing the 1.38900 level A look at the GBPUSD chart makes me even more curious. The pair experienced a very modest correction on market opening not even reaching the previous high of Friday @ 1.39330 in the process, at which point a data and Fed-infused dollar rally was seen , Can the dollar retain its gains? The GBP/USD pair met sellers around the daily ascending trend like that broke last Friday, and reached fresh lows after completing the pullback, usually a sign of an imminent bearish continuation Should the GBPUSD break major support, @1.37900 it wouldnt be a surprise to see it experience another sizeable fall, triggering stops along the way to propel it lower. What will back the dollar on its gains?

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