Cable reacted positively to the Average Earnings report last Wednesday. The pair, after declining towards 1.4330 found some buyers and advanced to 1.4660. It gave up some of these gain late in the week. It closed at 1.45 on Friday. From the technical perspective GBPUSD prints very similar pattern to EURUSD. They both are in the process of forming an ascending channel. It seems that GBPUSD has a bit more upside momentum at the moment and might not reach the bottom band as quick.
Posted in: Live trades,
Tags: may 2016,
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