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GBP/USD keeps falling, tumbles to 1.4280

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBP/USD is now accelerating its daily downside, dropping to fresh lows in the 1.4280 area ahead of US Payrolls.

    GBP/USD amidst ‘Brexit’ and Payrolls

    The sterling is falling to fresh 3-day lows vs. the greenback today following a sharp appreciation of EUR/GBP, while ‘Brexit’ jitters continue to weigh on investors’ sentiment.

    GBP has also suffered the unexpected drop in UK’s manufacturing PMI during March, adding to the downside.

    Next on tap for Cable will be the US calendar, with Non-farm Payrolls, ISM Manufacturing and the Reuters/Michigan index taking centre stage.

    GBP/USD levels to consider

    As of writing the pair is down 0.46% at 1.4295 and a break below 1.4281 (low Ap.1) would open the door to 1.4254 (61.8% Fibo of 1.3833-1.4517) and finally 1.4051 (low Mar.18). On the other hand, the next up barrier aligns at 1.4451 (high Mar.31) followed by 1.4517 (high Mar.18) and then 1.4565 (100-day sma).

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