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GBPUSD U Shaped bottom in progress

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBPUSD has bounced reaching 1.5380 zone mostly unaffected by dovish FOMC minutes. BOE showed no surprises as most expectations hit their targets except for trade balance today which came a bit worse then expected. The most important decision- interest rates are still 0.50 % and QE levels are 375B GBP. Having a bad trade balance result and possible profit taking is not that bad for us – traders as we could buy into dips. POC comes in 1.5240-60 zone ( 78.6, Historical breakout/buyers) and that

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