On the whole I was pretty happy with yesterday’s GBP/USD price movements. The rate bounced to 90 degrees, renewed the maximum and returned to the LB due to weak UK stats. Yesterday saw the key pairs strengthen against the dollar, so I expect the GBP to rise to the U1 today.
The GBP/USD lifted to 1.5125, but the close for the day was below 1.51. A break wasn’t cancelled, but the indicators don’t surprise me. Today the buyers will probably return the rate to 1.5125 since yesterday saw the dollar weaken against many currencies.
No comment until Friday.