GBP/USD next target aligns at 1.5492 – BBH

By FXStreet FXStreet (Edinburgh) – The research team at BBH signalled the next target for GBP/USD could be around the 1.5492 level.

Key Quotes

“It tested the 20-day moving average (~$1.5465). It too has retraced a little more than 38.2% o the losses from the last August spike (~$1.5420) and the early September low (~$1.5165)”.

“The next objective (50% retracement) is just above $1.5492. The 50- and 100-day moving averages around found in the $1.5515-$1.5525 range”.

“Soft inflation and retail sales data may be mitigated by an uptick in average weekly earnings and a generally healthy labor market report. However, if the $1.5340 level goes, sterling may retest its recent lows”.
For more information, read our latest forex news. …read more

Source:: FX Street