Filed Under:
Forex pairs in this Article » GBP/USD (Barcelona) - GBPUSD has extended its weekly decline following a tranche of soft UK economic data.

Despite finding support and then climbing overnight to post a morning high at 1.5996, the pair has sold off sharply and is now trading at its low since late November 2012 at 1.5904. Spot looks to be holding for now at the psychologically round number, but with European paper thinning into the close and momentum indicators hinting at some downside momentum, a further push lower in not unthinkable. With the European calendar signed off for the week, focus falls on the US Michigan Consumer Sentiment Index at 14:55 GMT.
comments powered by Disqus