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GBP/USD: bottom still unclear - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD pair consolidated its latest losses, extending its decline by a few pips to fresh multi-year lows at 1.4124.

    Key Quotes:

    "Pound continues unable to attract buying interest, even despite the release of the latest UK employment report showed that unemployment level fell down to 5.1%, its lowest since early 2016. The number of people unemployed decreased by more than expected, albeit wages disappointed, growing below market's expectations.

    A bottom is still unclear, given that the pair has set a lower low and a lower high daily basis, but an upward corrective movement can't be dismissed for this Thursday, considering that the pair accumulates nearly 800 pips of steady decline."
    For more information, read our latest forex news.

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