GBP/USD: Daily Technical Analysis For September 16, 2015

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Fundamental Analysis:

The Great Britain Pound slid against the greenback on Tuesday’s trading session after the release of Consumer Price Index. CPI remained unchanged from the economist’s forecast, however worsening data came from the PPI input which weakened the GBP currency.

meanwhile the dollar held modest gains against the other major currencies on Tuesday, despite the release of downbeat U.S. data on retail sales, as investors continued to focus on the Federal Reserve’s upcoming policy statement on Thursday.


Technical Analysis:

Intra-day bias remains on the downside as 21 and 55 EMA are crossed southward. SSRC and MACD also is also showing signs of bearish momentum continuation in the pair. More decline is expected to 1.5297 support and a break of this support could drive price more to 1.52385.

Tomorrow investors would be taking a close look at GBP Average Earning Index/ Claimo

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