Forex: GBP/USD at lows ahead of NY
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The GBPUSD has been tumbling from 1.6020 high throughout the day, below the 1.6000 handle, and still to find decent support. As of writing, the pair trades at its daily low, 1.5928.
Earlier, the UK total trade deficit narrowed from £-4.309B to £-2.699B in September, with Goods trade deficit improving more than expected from £-9.984B to £-8.368B, and the non-EU data better than expected from £-5.004B to £-3.972B. The British FTSE 100 falls by -0.72%. The US import and export price index is on the way.
"GBPUSD has sold off towards the 1.5915/00 key short term support. This represents the October low and the 50% retracement of the move up from August", wrote Commerzbank analyst Karen Jones, expecting rallies to struggle at 1.6047/57, the 55 day ma.
Earlier, the UK total trade deficit narrowed from £-4.309B to £-2.699B in September, with Goods trade deficit improving more than expected from £-9.984B to £-8.368B, and the non-EU data better than expected from £-5.004B to £-3.972B. The British FTSE 100 falls by -0.72%. The US import and export price index is on the way.
"GBPUSD has sold off towards the 1.5915/00 key short term support. This represents the October low and the 50% retracement of the move up from August", wrote Commerzbank analyst Karen Jones, expecting rallies to struggle at 1.6047/57, the 55 day ma.
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