Forex: GBP/USD outlook bearish below 1.6065 – V.Bednarik

FXstreet.com (San Francisco) - GBPUSD saw a mild sell-off during the Asia-Pacific session today, having traded down to as low as 1.6015 from 1.6035 at the close late Friday. Valeria Bednarik, Chief Analyst at FXstreet.com says that so long as GBPUSD trades below the 1.6065 area, "the outlook is negative for the pair, with a break below 1.5990 support pointing for a downward acceleration, targeting 1.5950 and 1.5910." If GBPUSD regains the upside, bullish targets are noted at 1.6065, 1.6090 and 1.6130.

In the European session ahead, Germany's foreign trade data is on offer as the main event risk today, but will have little effect on GBP. Later in the week, the key employment data in the UK will be released on Wednesday ahead of the FOMC meeting.