GBP/USD Price Analysis: Bears brace for July low ahead of BOE
GBP/USD remains on the back foot around monthly low. Downside break of two-month-old support, bearish MACD favor sellers. 200-day EMA adds to the upside filters, 61.8% Fibonacci retracement offers extra support. GBP/USD bears keep controls around 1.3620 amid the initial Asian session on the Super Thursday, after refreshing the monthly low with 1.3609 due to the Fed tapering before a few hours. Read more...
Bank of England Preview: Action to revolve around tapering prospects
The GBP/USD pair trades near its August low at 1.3601 ahead of the event, as a dismal market’s mood fuels demand for the American currency. Ahead of the event, the US Federal Reserve will unveil its own monetary policy decision, which may spur some wild action forward of the BOE. Read more...
GBP/USD analysis: Is pushed down by SMA
At midnight to Wednesday, the GBP/USD encountered and bounced off the combined resistance of the weekly S1 simple pivot point at 1.3676 and the 55-hour simple moving average at 1.3680. Afterwards, the rate began a step by step decline, which had no technical support as low as 1.3808. Read more...
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