GBP / USD sets new daily lows below 1.3830

Get real time updates directly on you device, subscribe now.

  • The pound among the weakest in the American session.
  • GBP / USD loses ground after four days of rises.

The GBP / USD broke below 1.3830 and fell to 1.3820 reaching a new low for the day.. The price remains in the minimum zone, close to the London fix, with the negative intraday tone intact. The US holiday could favor the continuation of limited tours throughout the forex market.

With no US impact data, the volume is expected to go downhill through Tuesday. Looking ahead to the next few days, the most relevant data from EE.UU. it will be known on Friday with the wholesale inflation rate. The statements of Federal Reserve officials will be interesting, especially after the employment report.

At United Kingdom the data day will be Friday, when the GDP figures for July will be released, as well as data on construction, activity in the service sector and foreign trade. The next meeting of the Bank of England is on September 23rd.

GBP / USD still unable to assert itself above 1.3865

GBP / USD approached 1.3900 on Friday, but then fell back and was unable to have a daily close above 1.3860 / 65. The zone between 1.3860 and 1.3900 is an important resistance band that, if left behind, would leave the pair ready to extend the raises. To the downside, the next support appears at 1.3815 followed by 1.3790.

Technical indicators do not give clear signals. For now, the correction looks normal after the rally of the previous days. The behavior of Tuesday will be key, when the normal volume of operations returns to see what happens with the pair.

Technical levels

Source Link

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.