GBP/USD testing the critical 1.5500 region

FXstreet.com (New York) – The GBP/USD foreign exchange rate oscillated on the back end of US data, which has thrown the pair into a volatile state Thursday during US trading.

In the United States, Gross Domestic Product Annualized (Q2) was reported at +2.5%, compared with a figure of +1.7% previously. In addition, Initial Jobless Claims came in at 331K, missing a consensus of 329K. Finally, Personal Consumption Expenditure Prices (QoQ) was unchanged in Q2, relative to +1.1% previously.

GBP/USD strategic bias

According to the Technical Analyst Team at ICN.com, “The GBP/USD is still trading below 78.6% correction at 1.5550, as stability …read more