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GBP/USD eyes $1.5250
The $1.52 level continues to hold as support, carrying on the pattern of the past five sessions. So long as the buyers continue to hold this line then we look towards $1.5250 and then $1.5280.
If a close below $1.52 occurs in coming sessions then support is likely near Tuesday’s lows at $1.5167, and then on towards the November low at $1.5050.
It is important to remember that cable is still stuck in a descending channel, so as long as this prevails the downside would appear to have the upper hand.