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21 Jun 2013
GBP/USD records first loss in 4 weeks
FXstreet.com (Córdoba) - The GBP/USD managed to trim some of its recent losses during the American afternoon after hitting 2-week lows sub 1.5400.
GBP/USD to close the week above 1.5400
GBP/USD bounced from a low of 1.5365 and regained the 1.5400 mark but the recovery was limited by the 1.5455 area. GBP/USD is currently trading at the 1.5435 zone, down 0.4% on the day and on track to close the week with a net loss of 1.8% for first time in 4 weeks.
GBP/USD lost nearly 400 pips from a 4-month high of 1.5755 scored on Wednesday as speculations the Fed could taper its stimulus program boosted the greenback across the board.
GBP/USD could see more weakness
“GBPUSD is vulnerable to the downside despite its rejection candle print. More weakness will not be a surprise in the new week”, says Mohammed Isah, analyst FXTechstrategy.
GBP/USD to close the week above 1.5400
GBP/USD bounced from a low of 1.5365 and regained the 1.5400 mark but the recovery was limited by the 1.5455 area. GBP/USD is currently trading at the 1.5435 zone, down 0.4% on the day and on track to close the week with a net loss of 1.8% for first time in 4 weeks.
GBP/USD lost nearly 400 pips from a 4-month high of 1.5755 scored on Wednesday as speculations the Fed could taper its stimulus program boosted the greenback across the board.
GBP/USD could see more weakness
“GBPUSD is vulnerable to the downside despite its rejection candle print. More weakness will not be a surprise in the new week”, says Mohammed Isah, analyst FXTechstrategy.