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The Sterling weakened against the US Dollar for the third consecutive time yesterday, but with the pair losing only 13 pips. During the previous slumps the Cable was edging lower less and less, suggesting that a possible trend reversal is at hand. Technical indicators are now giving distinctly bullish signals in the short-term, bolstering the possibility of the positive outcome. Consequently, the Sterling could even climb over the immediate resistance, namely the weekly PP, which is located at 1…
frankooo's Blog
GBP/USD Attempts To Climb Over 1.46
The GBP/USD currency pair remained relatively unchanged on Friday, with the pair edging only 5 pips higher over that day. The Cable is expected to continue climbing higher today, with the nearest resistance located only around 1.4710. However, there is insufficient impetus for a rally that high today, with price likely to close near the 1.4650 mark. Technical indicators are giving bullish signals, bolstering the possibility of the positive outcome. On the other hand, the Sterling also risks rema…