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GBP/USD Forecast: Potential for recovery exists

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Cable had another bad day yesterday even though the UK services PMI for March showed a slight uptick in the pace of expansion in the service sector. An early attempt at 50-DMA of 1.4278 had failed and the bulls never really recovered from it. Thus, pair kept losing ground right till the NY closing. A batch of better-than-expected US services PMI reports – Markit and ISM non-manufacturing – only added to the pain. The pair clocked a low of 1.4122 before trimming gains slightly to end the day at

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