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GBP/USD Forecast: Bulls need a break above hourly 200-MA

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Having breached 1.42 in early Asia yesterday, the GBP/USD pair extended the drop to 1.4090 before recovering a major part of its losses to end the day around 1.4151 levels. Cable felt the heat of latest Brexit polls which showed a tie between ‘leave’ vote and ‘exit’ vote. Slower rebound in US CPI and dovish comments from Fed officials did help recover in the pair, but failed to ensure a convincing break above hourly 200-MA level. This may be due to initial jobless claims hitting lowest since

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