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GBP/USD Forecast: Strong support at 1.53, Eyes Friday's high

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair ran into offers at the high of 1.5383 on Friday, following which the pair breached the 200-DMA support and ended lower at 1.5306 levels. The primary driver of the price action last week was the weaker USD. Better-than-expected UK industrial production also added to the bullish momentum in the pair. Awaits Fed Speak Global holidays could keep the volume low today while the economics calendar is empty across the Europe and in the US. Consequently, the focus would entirely be on

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