Great British Pound Rises on GDP


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:

GBP/USD is About to Break.

The following two tabs change content below.
Winners Edge Trading was founded in 2009 and is working to create the most current and useful Forex information and training available on the internet.

Winner’s Edge Trading, as seen on:

Winner's Edge Trading in the news