Flash: Turning GBP/USD signs-TDS

FXstreet.com (London)--strategists at TD Securities said that better than activity data of UK construction scheduled for October overnight confirmed some optimism from recent survey data.

Key quotes:

"GBP/USD was however under pressure along with the vast strength of USD, and the focus on the United States side of the equation could continue through the North American session, with little on the calendar and contemplating the markets the FOMC meeting next week".

"Technically speaking, the overnight selloff further damage to the trend of the past month and breaking under a short-term trend in the recent support hours suggests further downside in the next Bull sessions".

"Long term graphs are also showing signs of lower ride, especially with a week under 1.63".

View the original article here