DailyFX.com - British Pound Targets Fresh Lows versus the US Dollar

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

GBPUSD – Heavily one-sided positions warn that the British Pound may continue trading to fresh lows versus the US Dollar.

Trade Implications – GBPUSD: We’ve recently warned that the GBPUSD seemed at a crossroads; several signs pointed to a potential short-term reversal. Yet the Sterling has shown difficulty trading above the psychologically significant $1.66 mark, and it might take a move back above its 200-day simple moving average at $1.6690 to inspire confidence in a bounce. Until that happens we’ll continue to watch for fresh lows.

See next currency section:USDJPY - US Dollar at Make-or-Break Levels versus Japanese Yen

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY sellers exhausted? – BBH

  2. Forex News

    GBP/USD rises to session high of 1.5749

  3. Forex News

    Recent USDOLLAR Uptrend Under Pressure as World Waits on Greece

  4. Forex News

    http://www.fxstreet.com/news/forex-news/article.aspx?storyid=acd7c8ca-3e81-40bd-96af-642bef ...

  5. Forex News

    GBP/USD back above 1.57, awaits UK Q1 GDP

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!