Wednesday morning the Great British Pound had strength for the first time in a while. After hitting 5-month lows, the GBP/USD was ready for some relief.
Strong employment data for the U.K. released Wednesday morning, along with lower expectations of easing from the BOE Minutes flung the GBP/USD upward.
Jobless claims fell 12.2 thousand in December for the U.K. contrasted to an expected .5K rise.
Still full of negative momentum, the pound could continue bearish in the weeks to come unless we see some bullish follow through soon.
Click on the picture to enlarge.
[column size=”1-2″ last=”0″ style=”1″]
[column size=”1-2″ last=”1″ style=”2″]
Latest posts by admin (see all)
- Using Simple Moving Averages to clarify the Forex Market - November 13, 2017
- The Huge Benefits of Being a Scalper - November 6, 2017
- The ADX Methodology for Analysis, the Strengths and Values - November 4, 2017
Winner’s Edge Trading, as seen on: