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Forex pairs in this Article » GBP/USD
FXstreet.com (Córdoba) - After dropping more than 150 pips and hitting its lowest level in over 6 months in the wake of the BoE King comments, GBPUSD managed to stabilize in a narrow range.

As most crosses in the FX space, GBPUSD showed muted reaction to the latest string of US data, which came mainly in line with expectations, and it is currently trading around 1.5570, where it prints a 0.6% daily loss, having bounced from 1.5532.

"Technical readings in 4 hours chart are also strongly bearish, while daily low of 1.5532 acts as immediate support; a daily close below 1.5500, will confirm the continuation towards 1.52 over the next few days", says Valeria Bednarik, chief analyst at FXstreet.com.
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