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GBP/USD Forecast: Falling trend line breached ahead of UK trade balance data

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Cable mimicked action in the EUR/USD pair post the European Central Bank rate decision. Prices initially breached the 63-pip range of 1.4241-1.4178 to the downside and fell to 1.4117. This was largely in line with a sell-off in the EUR/USD pair. However, the common currency posted a stellar recovery and rose to 1.12 levels. Cable did the same and rose to 1.4318 levels. This means the pair could continue to track the action in the EUR/USD pair ahead of the weekend. As of now the currency pair

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