Forex: GBP/USD free-fall hits 1.6130
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GBP/USD
FXstreet.com (San Francisco) - GBPUSD continues to decline after testing offers above 1.6200 and stalling out at a 61.8% Fibonacci retracement level at 1.6215.
The market has dropped sharply from the mentioned highs and last trades around the 1.6130 mark, set to end the week practically unchanged as price develops below the 200-day EMA after the break higher in September.
Fundamentally speaking, "Industrial production data and trade figures are set for release early next week, and the medium term focus remains on the economic outlook driving BoE policymakers' tone ahead of the coming expiry of QE," explains Eric Theoret, Currency Strategist at Scotiabank.
The market has dropped sharply from the mentioned highs and last trades around the 1.6130 mark, set to end the week practically unchanged as price develops below the 200-day EMA after the break higher in September.
Fundamentally speaking, "Industrial production data and trade figures are set for release early next week, and the medium term focus remains on the economic outlook driving BoE policymakers' tone ahead of the coming expiry of QE," explains Eric Theoret, Currency Strategist at Scotiabank.
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