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27 Mar 2015
GBP/USD bearish bias below 1.53 handle
FXStreet (Guatemala) - GBP/USD is currently trading at 1.4893 with a high of 1.4923 and a low of 1.4795.
GBP/USD bulls have been making hard work of any upside, and much of the sentiment in the pound is built up around the forthcoming elections and the uncertainty is weighing on the pound. Technically, major resistance comes at the 2014-2015 downtrend channel resistance line at 1.5338. Karen Jones, chief analyst at Commerzbank suggested that while it caps, the down trend will remain intact.
For data, next week's calendar holds the Party Leaders’ Election Debate on Thursday 2nd April. Parliament is dissolved on the 30th, kicking the election campaign into full swing as analysts at TD Securities noted, "The 7-way debate will be the only head-to-head (to head to head….) party leaders’ debate ahead of the election, but it’s unlikely that with so many voices, we see anyone come out clearly on top."
GBP/USD bulls have been making hard work of any upside, and much of the sentiment in the pound is built up around the forthcoming elections and the uncertainty is weighing on the pound. Technically, major resistance comes at the 2014-2015 downtrend channel resistance line at 1.5338. Karen Jones, chief analyst at Commerzbank suggested that while it caps, the down trend will remain intact.
For data, next week's calendar holds the Party Leaders’ Election Debate on Thursday 2nd April. Parliament is dissolved on the 30th, kicking the election campaign into full swing as analysts at TD Securities noted, "The 7-way debate will be the only head-to-head (to head to head….) party leaders’ debate ahead of the election, but it’s unlikely that with so many voices, we see anyone come out clearly on top."