4 Aug 2015
GBP/USD bulls committed here after Lockhart?
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5555 with a high of 1.5635 and a low of 1.5555.
GBP/USD dropped on the back of Fed's Lockhart who explained the September could be the month for lift-off. The major went from a bid on the session on the 1.56 handle, headed towards 1.5640 before the comments which have killed the rally as we now print fresh lows for the day at time of writing.
GBP/USD headed to downside breakout zone
We now await the Nonfarm Payrolls from the US after the BoE day for direction in GBP/USD. Technically, we are headed for a breakout zone to the downside for the major. Karen Jones, chief analyst at Commerzbank explained that we will need to see a break below the 1.5553 uptrend to alleviate upside pressure and to trigger losses to the 200 day ma at 1.5390.
Valeria Bednarik==<==/a>, chief analyst at FXStreet explained that in the 4 hours chart, the price is struggling around a horizontal 20 SMA, whilst the technical indicators have turned lower around their mid-lines, still unable to confirm additional declines. "In this last chart, the price has failed to establish above a now bearish 20 SMA ever since the day started, inclining the balance towards the downside for the upcoming hours."
GBP/USD dropped on the back of Fed's Lockhart who explained the September could be the month for lift-off. The major went from a bid on the session on the 1.56 handle, headed towards 1.5640 before the comments which have killed the rally as we now print fresh lows for the day at time of writing.
GBP/USD headed to downside breakout zone
We now await the Nonfarm Payrolls from the US after the BoE day for direction in GBP/USD. Technically, we are headed for a breakout zone to the downside for the major. Karen Jones, chief analyst at Commerzbank explained that we will need to see a break below the 1.5553 uptrend to alleviate upside pressure and to trigger losses to the 200 day ma at 1.5390.
Valeria Bednarik==<==/a>, chief analyst at FXStreet explained that in the 4 hours chart, the price is struggling around a horizontal 20 SMA, whilst the technical indicators have turned lower around their mid-lines, still unable to confirm additional declines. "In this last chart, the price has failed to establish above a now bearish 20 SMA ever since the day started, inclining the balance towards the downside for the upcoming hours."