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GBP/USD Forecast: bullish view intact, Eyes trendline resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair rose to a high of 1.5507 as the UK retail sales surpassed expectations by a big margin, before erasing gains and falling to 1.5369 amid sell-off in the EUR/USD pair and upbeat US weekly jobless claims data. The ECB President Draghi caught markets by surprise with his extremely dovish talk and led to a sell-off in the EUR and in the other European majors including Sterling. Still, the Cable managed to take back part of its losses and close above strong support at 1.5387,

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