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GBP/USD Forecast: Bullish move could be short lived

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The bullish move in the GBP/USD pair ran out of steam again on Friday near a critical resistance at 1.4578. The pair eventually closed at 1.4498 levels. A stronger than expected US retail sales data helped the USD recover losses. Corrective rally in equities could support Sterling The pickup in consumer spending, which accounts for 70% of the US economy, is likely to keep the equity bears at bay. Furthermore, the Dow index is likely to rebound from the 23.6% Fibo retracement of the rally from

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