GBP/USD Forecast: Should we trust the rally in Pound?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    GBP/USD pair spiked 1.4282 levels in the NY session amid holiday thinned volumes. US personal spending growth slowed more than expected, pushing the savings rate to one-year high. Core PCE also printed weaker-than-estimate, triggering a broad based sell-off in the USD. However, the resulting spike in the pair appears slightly overdone and should be treated with caution since the trading volumes were low. This is because Brexit fears are still very much intact. Implied volatility on three-month

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