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GBP vs USD currency overview for 27th March 2018The Pound to US Dollar has been edging higher throughout the week so far, but mixed trade news and risk-sentiment is limiting GBP/USD gains.
Demand for the US Dollar has been limited by concerns about clashes on trade between the US and China. The US introduced fresh tariffs on Chinese goods overnight and China has already announced a retaliation of tariffs on US products.
US non-manufacturing PMI data will be published during Wednesday’s American session, but investors may be hesitant to make big moves on the US Dollar amid trade uncertainty and ahead of Friday’s US Non-Farm Payroll report.
GBP vs USD trend analysis for 1st May
Although GBP-USD has been in an uptrend for some time, the fact that the recent trend (blue line on the chart) is now pointing downwards indicates that a trend change may be forming that is likely to send the Pound lower against the US Dollar.
If you want to buy US Dollars, it might be prudent to do so soon, as it looks your Pound will buy less US Dollars in the near future.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/USD exchange rates
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