GBP/USD – Could drop to 1.20 on strong US GDP
Failure at 1.2273 despite upbeat UK GDP figure and drop in BOE rate cut bets followed by a retreat and a daily close at 1.2163; its weakest in two weeks makes the pair extremely vulnerable to strong US GDP print.
Speculation is rife that the US economy could have expanded at a fastest pace in 2 years in the second quarter. If the actually figure is above estimates, then the pair breach 1.2083 (Oct 25 low) and drop to 1.20 levels.
Speculation is rife that the US economy could have expanded at a fastest pace in 2 years in the second quarter. If the actually figure is above estimates, then the pair breach 1.2083 (Oct 25 low) and drop to 1.20 levels.
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