Tag Archives: GBP

Cable Could Be Eyeing Towards New Low

Gregor Horvat

Pound made deep and unexpected bounce in the last few weeks but recovery is still in three waves. In fact, we have seen some bearish turn in the last two weeks from highlighted Fibonacci levels. So if we consider that big trend is still down from last year highs, then we should be prepared on more weakness in days ahead, possibly back to the lows. However, it’s not a bad thing to focus on minimum expectations, which in our case means a fall to 1.5070. This is now very close, so a decisive break through that low, will also open door for 1.45 once again. more…

GBP/USD Testing Key Resistance Ahead Of US Data

Farad Razaqzada

The GBP/USD is up for a third consecutive session, extending its gains from the base of 1.5170 formed on June 1. The upsurge has been primarily driven by a weaker US dollar rather than a stronger pound, with the dollar index now down for a third straight day. But the pound has also gained some ground on the back of some mixed bag UK economic data of late. Today‚Äôs numbers showed manufacturing production unexpectedly fell 0.4% in April, wiping out the March increase, while industrial production was up 0.4% over the month when an increase of only 0.1% was expected. more…