GBP/USD Forecast: Rising trend line is a next major support

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Friday’s sell-off saw the GBP/USD pair drop to a intraday low of 1.4171, before trimming losses slightly to end the day around 1.4221 levels. Higher US wage growth figures helped the dollar bulls flex their muscles and the Cable became a victim, given the background of Brexit fears and not so impressive UK manufacturing PMI data release. Pair’s attempt to retake Friday’s losses quickly ran out of steam in Asia around 10-DMA level of 1.4240 and the bird is now hovering around 1.4213 levels;

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