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GBPUSD: Towards the top of current channel – Lloyds Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at Lloyds Bank, suggests that GBPUSD have moved back towards the top of the current channel overnight, mostly due to the USD coming under a little pressure as a result of the US equity market and bond yield weakness.

    Key Quotes

    “If the US ADP employment numbers disappoint this afternoon. Interim pivot support lies in the 1.4340/30 region, a break there risks a move back to channel support lying in the 1.4180/75 region. A breakdown through there suggests we are returning to the underlying bear trend and a test of the 1.40-1.35 key long term support region.”
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