GBP/USD: Takes out Key Support, Set To recall The 1.5805 Level.

GBP/USD: There are speculations that a bearish trend will surface in the near future following a sell off of the pair and a break beneath its medium time growing trend level. Further weakness of the pair will force GBP to target the 1.5805 level. The violation of this level on April 5^th will cause more drop towards 1.5642/53 levels. A break at this level will try to go to the 1.5497 level, its highest since January 2012. Its daily RSI remains bearish showing signs of dropping further. But the pair can also stop its bearish trend and work towards returning to the growth trend line. This aims at reaching the 1.64451 level. Any rise above this level will target the 1.6293 level. Further out, drop remains at the 1.6451 level. Generally, the pair goes on to cling to its downside force.

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