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GBP/USD downside open below 4hr 20 SMA

FXStreet (Guatemala) - GBP/USD is currently trading at 1.5128 with a high of 1.5181 and a low of 1.5106.

GBP/USD is consolidating the downside below the 20 and 50 SMA on the hourly chart post the supply at 1.5179 from earlier on in the sessions overnight. The UK manufacturing data was positive vs the consensus at 51.3 exp while actual came in at 51.5. We now await the Nonfarm Payrolls tomorrow that are expected to come in line with expectation above 200k while the ADP report was positive yesterday leading to a solid result that the FOMC will ponder over later this month.

GBP/USD bearish on 4hr

Technically, Valeria Bednarik, chief analyst at FXStreet explained GBP/USD remains under pressure, "In the 4 hours chart, the pair is still unable to clearly break above a bearish 20 SMA, whilst the technical indicators present tepid bearish slopes after failing to advance beyond their mid-lines."

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