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Forex pairs in this Article » GBP/USD (Barcelona) - GBP/USD still needs to force the cross above 1.5738 to negate the potentially very bearish set-up on the daily chart.

GBP/USD traders will rely on US data once again Tuesday

The GBP/USD, which has been conspicuously weak recently, could not even get a meaningful boost from disastrous US Durable Goods data on Monday. If that didn’t do the trick, what will?

Perhaps more weak data from the US Tuesday, if it happens, will lend the GBP/USD a hand. Or, maybe the cross will have to wait until Wednesday for some help when the Bank of England’s Mark Carney will speak to Parliament.

Technical outlook for GBP/USD

Technicians are still calling for GBP/USD to move down towards the ultimate target of 1.4551. They note that only a close above 1.5738 will force them to reconsider this bearish outlook. Shorter-term support comes into play at 1.5422 (the 8/14 pivot low).
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