GBP/USD: in a downward spiral? - FXStreet

Ross J Burland FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD pair traded as high as 1.3247 at the beginning of the day, but Pound self-weakness has weighed more, with the pair quickly retreating sub-1.3200.

Key Quotes:

"Despite US data disappointed, the pair fell to a fresh daily low in the American afternoon of 1.3116, barely recovering from it by the end of the day. There were no macroeconomic news in the UK, although a YouGov survey, suggesting that the UK consumer confidence was at a 6-year low, put additional weigh on the Sterling."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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