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28 Aug 2013
GBP/USD fading further away from the 1.5738 key resistance
FXstreet.com (Barcelona) - GBP/USD appears very vulnerable despite the DXY weakness we have seen in the last couple of months. Only a break back above 1.5738 will negate this bearish condition.
GBP/USD traders watching Syria as well as Carney’s speech to Parliament Wednesday
Aside from the goings on between Britain’s ally, the United States, and Syria, GBP/USD traders will be watching closely when the Bank of England’s Mark Carney speaks to Parliament on Wednesday at 11:45 GMT.
Technical outlook for GBP/USD
Technicians are still calling for GBP/USD to move down towards the ultimate target of 1.4551. They note that only a close above 1.5738 will force them to reconsider this bearish outlook. Shorter-term support comes into play at 1.5422 (the 8/14 pivot low).
GBP/USD traders watching Syria as well as Carney’s speech to Parliament Wednesday
Aside from the goings on between Britain’s ally, the United States, and Syria, GBP/USD traders will be watching closely when the Bank of England’s Mark Carney speaks to Parliament on Wednesday at 11:45 GMT.
Technical outlook for GBP/USD
Technicians are still calling for GBP/USD to move down towards the ultimate target of 1.4551. They note that only a close above 1.5738 will force them to reconsider this bearish outlook. Shorter-term support comes into play at 1.5422 (the 8/14 pivot low).