GBP/USD Forecast: Bears in control, forced tightening in the US

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD pair fell to a low of 1.5306 as the dovish ECB and an interest rate cut from the PBOC led to a broad based strength in the US dollar. The pair suffered a daily close below its 200-DMA seen at 1.5331. The strong UK retail sales report released last week failed to take out the falling trend line resistance on the daily chart, leading to a sell-off on Friday. Forced tightening in the US The Fed did surprise markets with its dovish stance in September, however the developments last

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