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GBP/USD Forecast: Eyes BOE event, trades above falling channel resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair jumped as high as 1.4649 levels before trimming gains slightly to end the around 1.4602. The British Pound was buoyed by a better-than-expected UK services PMI, but major part of the gains were triggered by the broad based USD selling seen in the NY session. The US ADP figure highlighted slowdown in the private sector job growth. Meanwhile, the US ISM non-manufacturing also weakened more than expected and showed job losses. However, the real pain for the USD began after Fed’s

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