FxGrow Daily Technical Analysis – 12th July, 2017
By FxGrow Research & Analysis Team

GBP/USD Testing 50 EMA Ahead of Major Data


GBP/USD extended the selloff wave since yesterday with 113 pips value loss, landing in 1.2810 low for now. The pair tested daily 50 EMA at 1.2820 with failure and in case market closing below, signs of bearish momentum will persist.

MPC member Broadbent crossed wires yesterday with a dovish stance hinting for many current obstacles facing UK economic outlook, being inconsistent with Carney's recent hawkish speech, hence a negative wave still evolves for the cable.

Fundamentally, the pair awaits major inflation reports shortly with two possible scenarios. A negative data will add more ...


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