GBP USD is going to be weaker on the Forex market
3/2/2017 2:22:10 PM
The pound is extending its weekly bearish note on Thursday, pushing GBP/USD to test fresh lows in sub-1.2280 levels.
Actually, the maintenance of the rally in the dollar stays bolstered by increasing expectations of a Fed move at the meeting later in the month, weighing in the risk-associated universe and forcing the pair to expand the rejection from recent tops in the 1.2577 band.
As mentioned above the pair is losing 0.12% at 1.2278 and a break below 1.2266 would target for 1.2248 and ultimately 1.2038. On the other hand, the first up barrier line up at 1.2303 followed by 1.2397 and then 1.2413.
FOREX market analysis by FxErvin.