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GBP/USD fails to rise above 1.6150

FXStreet (Córdoba) - Cable was among the worst performers in the currency market on Thursday. GBP/USD finished the day hovering around 1.6140, 0.28% below Wednesday’s closing price.

AFter peaking during the Asian session at 1.6248 the pair turned to the downside and dropped during most of the day, bottoming on American hours at 1.6113, the lowest price in three weeks.

If GBP/USD ends the week around current levels or below, it would post the lowest weekly close since at least November 2013. But on Friday the NFP report could affect the US dollar.

GBP/USD technical outlook

“The 1 hour chart shows price contained below a bearish 20 SMA with some long upper shadows showing increasing selling interest. Indicators in the same time frame head lower below their midlines, reflecting the ongoing bearish tone, while the 4 hours chart shows indicators also biased lower”, said Valeria Bednarik, Chief Analyst at FXStreet.

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