GBPUSD  Searching for the 50 FIB


The GBPUSD continued its slow crawl lower this week.  The cross has been more resilient than the commodity currencies and the Euro, but the negative global news has been weighing on the pair.  The 50 fib from the April highs at 1.6052 should provide solid support for the GBPUSD.  The 1.6050 level is also significant daily price support.  A move below this and the pair would run into the trend line that has guided price action so far this year.  Resistance begins at 1.6180.

Sup    1.6050

Res     1.6180