27 Aug 2015

GBP/USD BREAKING THROUGH A MAJOR SUPPORT

GBP/USD DAILY

The rate is breaking below the major support at 1.5450 due to better than expected US GDP (QoQ) figures (3.7% vs 3.2% exp.). Either a daily close below this level or a test as the new resistance is needed to confirm resumption of the broader downtrend.

The immediate attention is now on the July lows at 1.5350, however, the economical data from US may spark the Fed's interest rate hike bets once more and may drag the rate lower.

Possible downside targets: 1.5350; 1.5180; 1.4750






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