GBP/USD Forecast: Awaits bullish break from falling channel, may re-test 5-DMA

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The GBP/USD pair rose as high as 1.4363 on Friday, before trimming gains to end the day moderately higher at 1.4262 levels. The UK retail sales figure released on Friday was way below estimates. However, the UK public sector net borrowing number dropped sharply and hence triggered a much needed corrective rally in the air. GBP extremely oversold Usually, the public sector net borrowing number is not a market moving figure. But on Friday, the data single handedly pushed the GBP/USD pair higher;

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