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21 Aug 2015
GBP/USD bears looking for sub 1.57 close
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5690 with a high of 1.5724 and a low of 1.5656.
GBP/USD has made advances that are failing at 1.5720 and the pair is headed for a close for the week below the key psychological handle. The pair has been lifted with speculation that the Fed cannot increase interest rates as soon as September due to the global concerns with China and subsequent negative impacts in the EM arena and how a strong dollar would be detrimental to the US growth outlook.
The UK, on the other hand, has shown a number of data signs that the BoE may be forced into a position of hiking interest rates as early as the Q1 of 2016 and data to keep an eye on next week comes with the UK GDP Q2 revisions. We also have the same for the US as well as Durable Goods orders.
GBP/USD levels
Technically, the 200 WMA would come into the picture of a break to the top-side through 1.5790 and target 1.5800, 1.5860/08 (June 21st highs). The June high was 1.5930. To the downside, 1.5424 is the current August low ahead of the 200 day moving average at 1.5371.
GBP/USD has made advances that are failing at 1.5720 and the pair is headed for a close for the week below the key psychological handle. The pair has been lifted with speculation that the Fed cannot increase interest rates as soon as September due to the global concerns with China and subsequent negative impacts in the EM arena and how a strong dollar would be detrimental to the US growth outlook.
The UK, on the other hand, has shown a number of data signs that the BoE may be forced into a position of hiking interest rates as early as the Q1 of 2016 and data to keep an eye on next week comes with the UK GDP Q2 revisions. We also have the same for the US as well as Durable Goods orders.
GBP/USD levels
Technically, the 200 WMA would come into the picture of a break to the top-side through 1.5790 and target 1.5800, 1.5860/08 (June 21st highs). The June high was 1.5930. To the downside, 1.5424 is the current August low ahead of the 200 day moving average at 1.5371.