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GBP/USD: bears woke up

Kira Iukhtenko

The US dollar strengthened versus all the European currencies on the past week. The cable was not an exception, testing the levels below the key support of 1.5200 on Friday. One may see that the pair is now testing the lower border of the daily Ichimoku cloud. GBP/USD has already lost more than 61.8% Fibonacci from the recent ascent to 1.5550. Weekly close below the 1.5200 mark will open the way to the recent lows of 1.5000/1.4950.

Next week watch the UK manufacturing data on Wednesday and trade balance on Friday. 

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