GBP/USD Forecast: Awaits range breakout

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD pair jumped to 1.4241 in Europe on Wednesday before falling back to around 1.4180 in early US session. Another wave of buying was seen in the NY session following a rally in oil. However, the momentum stalled again as the spot neared 1.4241 levels. The pair dipped to around 1.42 levels in Asia as investors await the ECB rate decision due later today. The data released in the UK yesterday did show factory output bounced back strongly in January, marking the sector's first rise in

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