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Forex pairs in this Article » GBP/USD (New York) - The GBP/USD technical pair recently grinded lower during European trading after an attempt at recovery was stymied at the 1.5468 region Thursday.

GBP/USD could encounter 55-day MA

“The GBP/USD is a corrective move as the daily RSI has diverged, we have a 13 count on the daily and the TD perfected set up all warned of the impending correction lower and this is now being seen. This move lower is poised to encounter the 55-day MA at 1.5373, though failure here is needed to signal a slide to the support line at 1.5060.” warns Karen Jones, an analyst at Commerzbank.

Technically speaking, the pair is operating at 1.5457, or -0.25% in these moments. The GBP/USD will look towards supports at 1.5388 followed by 1.5304, and finally 1.5160. Alternatively, a movement to the upside and a paring of losses will usher in resistances at 1.5616, then 1.5760, and eventually 1.5844, calculates the analyst team.
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