GBPUSD Pushing Lower

Pushed by not so good news regarding the UK banking sector, among others, the Pound has given back most of the June and July gains, and it’s heading even lower towards the years low at 1.9350.  Technically  speaking the upper trendline resistance has so far held and helped in the overall trading bias, the bearish channel has an long term target around 1.90  but in order to go there we have to clear the 1.9500 round number. Pushed by not so good news regarding the UK banking sector, among others, the Pound has given back most of the June and July gains, and it’s heading even lower towards the years low at 1.9350.  Technically  speaking the upper trendline resistance has so far held and helped in the overall trading bias, the bearish channel has an long term target around 1.90  but in order to go there we have to clear the 1.9500 round number. We have during the next few days interest rate decisions on all major central banks BOE, FED, ECB that can shift the markets significantly.

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