GBP/USD suffers on broad USD strength - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD pair erased all of its Tuesday gains and fell down to 1.4191 on broad dollar's strength and the absence of macroeconomic data in the UK.

    Key Quotes:

    "Nevertheless, the Pound was among the best performers against the greenback, as the pair has roughly gave back some 60 pips on the day. The BOE will have its monthly economic policy meeting this Thursday, but it's hardly expected to change its ongoing policy.

    If something, focus will turn in comments about the possible risk of a Brexit. In the meantime the 1 hour chart for the pair shows that the price developed below a now bearish 20 SMA, whilst the technical indicators lack directional strength, but hold within bearish territory, suggesting the pair may slip further during the upcoming sessions."
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