STRATEGY: Bearish, against 2.0271, target 1.9540
We continue to favor GBPUSD shorts to our final target of 1.9540, but the near term picture suggests that cable may have found support at 1.9750 and is likely to consolidate in the 1.9900-1.9750 channel as it works off its oversold condition. A break of the 1.9750 zone indicates further weakness to our ultimate target. However a break of 1.9900 once again sets up a retest of 2.000 and beyond.
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STRATEGY: Bearish, against 2.0271, target 1.9540
