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Will The GBP Resume Its Bearish Trend Against The USD?

Published 11/10/2014, 02:42 AM
Updated 05/14/2017, 06:45 AM
GBP/USD
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The British pound advanced against the U.S. dollar as demanded for greenback decreased following a weak Nonfarm payrolls report released on Friday and drop in U.S. 10-year bonds yields
Traders must keep an eye on Boston Fed President and Federal Open Market Committee (FOMC) voting member Speech.


Finally, the GBP/USD prices are still trading below the lower line of the symmetrical triangle. Prices rally may be taken as a pullback as long as prices remain below $1.5950-level. If the pair will fail to break above $1.5950, so the decline will resume and prices could reach $1.5580 area as a potential Triangle target.

GBP/USD Daily Chart

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