GBP/USD: bottom still unclear – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD pair consolidated its latest losses, extending its decline by a few pips to fresh multi-year lows at 1.4124.

Key Quotes:

“Pound continues unable to attract buying interest, even despite the release of the latest UK employment report showed that unemployment level fell down to 5.1%, its lowest since early 2016. The number of people unemployed decreased by more than expected, albeit wages disappointed, growing below market’s expectations.

A bottom is still unclear, given that the pair has set a lower low and a lower high daily basis, but an upward corrective movement can’t be dismissed for this Thursday, considering that the pair accumulates nearly 800 pips of steady decline.”
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Source:: FX Street