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May 4, 2018
GBPUSD BEARISH BELOW 1.3600 LEVEL
The British pound continues to trade to the downside against the U.S dollar, after the pair was sold-off from the 1.3589 level during the European trading session. The GBPUSD pair currently trades around the 1.3550 region, with sterling’s 200-day moving average coming back into focus, at 1.3532. Traders now look towards the release of the U.S Nonfarm Payrolls jobs report, with medium-term selling pressures continuing to build.
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The GBPUSD pair remains bearish while trading below the 1.3600 level, further losses towards 1.3532 and 1.3493 levels remain possible.
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If the GBPUSD pair can break back above the 1.3600 level today, we may see buyers test towards the 1.3665 and 1.3710 levels.