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GBP/USD bounce stalls out, now testing 1.50 after strong ADP data

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After the slow click-click-click of suspense-building economic data early in the week, the rollercoaster ride has started in earnest for traders. Overnight, traders got their first look at Australian Q3 GDP data, which came out better-than-expected at 0.9% q/q and we also got a small positive revision to last month’s report. Unfortunately, the positive vibes did not carry over into today’s European session. UK Construction PMI came out at just 55.3, well below the 58.4 reading expected and

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