30 Aug 2013
GBP/USD continues the decline
FXstreet.com (New York) - The GBP/USD foreign exchange rate could not reverse its gradual decline Friday, suffering extended losses during US trading.
In the United States, the Reuters/Michigan Consumer Sentiment Index (August) was reported at 82.1, beating a consensus of 80.5.
At this juncture, the GBP/USD is now testing 1.5474, incurring a loss of -0.19% off its opening. Briefing the technicals, the GBP/USD will attempt to be bolstered by supports at 1.5477, ahead of 1.5447, and 1.5411, notes the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD’s trading tends to the downside today accompanied by trading below 1.5500. Trading below the referred to level is negative which force us to hold on to our expectations of an extended decline.”
In the United States, the Reuters/Michigan Consumer Sentiment Index (August) was reported at 82.1, beating a consensus of 80.5.
At this juncture, the GBP/USD is now testing 1.5474, incurring a loss of -0.19% off its opening. Briefing the technicals, the GBP/USD will attempt to be bolstered by supports at 1.5477, ahead of 1.5447, and 1.5411, notes the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD’s trading tends to the downside today accompanied by trading below 1.5500. Trading below the referred to level is negative which force us to hold on to our expectations of an extended decline.”