14 Nov 2013
GBP/USD had “abc” correction in first few hours of Asian session; now working higher
FXstreet.com (Barcelona) - The GBP/USD had a great day Wednesday and spent the first few hours of the Thursday Asian session correcting lower in “abc” fashion. Now, though, the cross is headed higher once again.
GBP/USD traders looking forward to British and US data
Thursday, GBP/USD traders will have more Yellen and Bernanke to digest in addition to the normal schedule of data releases from Britain (Retail Sales) and the US (weekly jobless claims, non-farm productivity and trade balance).
Technical outlook for GBP/USD
Technicians say that GBP/USD did a tremendous job of reversing the possible break of support at 1.5902 and posting a solid up day Wednesday. Resistance for GBP/USD comes in at 1.6113 with the 10/22 close at 1.6233 backing that up.
GBP/USD traders looking forward to British and US data
Thursday, GBP/USD traders will have more Yellen and Bernanke to digest in addition to the normal schedule of data releases from Britain (Retail Sales) and the US (weekly jobless claims, non-farm productivity and trade balance).
Technical outlook for GBP/USD
Technicians say that GBP/USD did a tremendous job of reversing the possible break of support at 1.5902 and posting a solid up day Wednesday. Resistance for GBP/USD comes in at 1.6113 with the 10/22 close at 1.6233 backing that up.