The British economy grew .3 percent in the first quarter of 2013. The forecast was only a 0.1% increase so, the deviation shot the GBPUSD upward about 200 pips today so far, to a two-month high of $1.546.
As far as technical analysis, the GBPUSD consolidated for days, it was running out of room and was at the end of a wedge. The huge breakout today could possibly be contributed to the technical and fundamental signals coming together.
Nathan talked about the possibility of the GBP/USD breakout in his technical analysis video yesterday! To see what Nathan said, watch the video here:
Latest posts by admin (see all)
- AUDUSD approaching major resistance, prepare to sell - May 18, 2017
- How To Trade The Fractal Indicator - April 3, 2017
- How to Use Candlestick Patterns to Start Winning More Trades - March 19, 2017
Winner’s Edge Trading, as seen on: