British Pound has reached historic lows… How low can GBPUSD go? Let’s first start with the forex economic calendar on Thursday… First off today Bank of Japan Governor Haruhiko Kuroda will hold a press conference about monetary policies in Tokyo at 12:30 AM GMT and we may see a potential move from them to devalue the ever strengthening Japanese Yen.
During the London session Swiss Consumer Price Index will be out at 7:15 AM, followed by UK Industrial Production at 8:30 AM. ECB Monetary Policy Meeting Accounts is scheduled for 11:30 AM GMT which contain an overview of financial market, economic and monetary developments. From the US the ADP Employment Change is out at 12:15 PM GMT as well as their Initial Jobless Claims at 12:30 PM to shake up the USD crosses. Canada’s Ivey PMI is later released at 2 PM to captures business conditions in Canada in June. .
How Low can GBPUSD Go? Forex Economic Calendar
How Low can GBPUSD Go? | Technical Analysis
The GBP/USD pair reached historic lows on Wednesday in the 1.2790 level, keeping traders baffled trying to pin-point a new support for the pair. So far a correction is expected with 1.38 acting as new pivot level followed by 1.44 which is the 38% Fibonacci level.
How low can GBPUSD go?
We’ve got another NFP Friday coming up (July 8, 12:30 pm GMT), so chances are good that Ms. USA (US Dollar) gonna get a volatility infusion. We will be talking about this with Invest Diva students as it pans out. The ADP report won’t be out until tomorrow’s U.S. session (July 7, 12:15 pm GMT), so make sure to check back after it’s out since my conclusion may change depending on the details of the ADP report.
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