FXStreet (Córdoba) – Cable moved is attempting to move off session lows as it trades at 1.5330, still down more than 50 pips for the day. During the American session it fell to 1.5300, hitting a fresh 3-week low. GBP/USD managed to climb away from the lows as the US dollar lost momentum across the board.
Greenback is about to post the fourth daily gain in a row against the pound, that today is among the worst performers in the market, together with the Japanese yen.
What’s ahead for GBP/USD
On Thursday, a new reading (second estimate) on Q1 GDP growth will be release in the United Kingdom and on Friday in the US. Both reports could impact the pair. While in the UK an upward revision is expected in the US analyst are projecting an important revision from +0.2% to -0.8%. In the US on Thursday there will be also more economic reports with jobless claims and pending home sales.
Traders are also with eyes over the negotiations between Greece and its creditors. An agreement that boost risk appetite could favor the upside in the GBP/USD.
(Market News Provided by FXstreet)