Filed Under:
Forex pairs in this Article » GBP/USD (Barcelona) - GBP/USD absorbed Carney’s speech and varying rumors about the Syrian situation and still managed to muster a short-term oversold bounce Wednesday. Over the last hour, though, it has begun to fade once again.

Syrian situation likely to drive the action despite Thursday data points

There will be no British economic data out on Thursday, but the US will be releasing their GDP numbers, Personal Consumption Expenditure data and weekly Jobless Claims. Additionally, the FOMC’s Bullard will be out speaking on the economy and Fed policies later in the day. Nevertheless, most of the major currency pairs' traders will be carefully watching the news flow out of Syria as it seems to be having a major effect on those markets.

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) – and that was re-tested Wednesday.
comments powered by Disqus