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Pound/Dollar: Daily Support Reached

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Hourly The pound/dollar lost its momentum after weak UK construction activity data came out. Then the fall gathered pace after positive stats came out of the US and Yellen made a speech. One thing for sure isn’t clear: why is everyone throwing pounds in before the ECB meeting when everyone expects a further relaxation of monetary policy? I understand that the BoE is in no rush to put up its rates, but as I see it, the pound was being sold too much yesterday. The pound/dollar fell to the D3.

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