GBP/USD Latest News

GBPUSD The bulls were clearly outnumbered as the bear train continued through to break 1.2750 as well and reached as far as 1.2718 where the next support region was and this caused a slight bounce in the price though the bounce has not looked anyway healthy so far.

For today, we have the services PMI to be released from the UK but even though the news from the UK has consistently been better than the expected, no one seems to be bothered anymore and any economic news does not seem to have any impact on the bear train. The only salvation could arrive if the NFP turned out to be weak and the USD became caught in a rut but that looks unlikely at this point of time and the damage might have already been done. The arrival of volatility is a welcome change to the markets and it is something that traders have been looking forward to, over the last couple of weeks.
For today, expect some support to be found around 1.2700 and then at around 1.2630 while strong resistance can be expected at around the Brexit lows of 1.2790. Any break above 1.2790 and a close of price above this region could be worth a buy, if that happens and that is a big IF.

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