Pound Sterling Price News and Forecast: GBP/USD – Falling on Friday? [Video]

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GBP/USD: Dollar weakness helps Cable bulls – The rally continues [Video]

The broad dollar weakness is really helping Cable bulls at the moment, so much so that there is a renewed prospect of continued recovery. In the past couple of weeks, the market has been starting to pick up. Support at $1.2075 seems to now have a higher low at $1.2160 and a mini uptrend recovery is holding. With now three confirmed consecutive higher daily lows (and the prospect of a fourth now today) the market is pressuring recent resistance at $1.2360. Whilst as yet there is still no confirmation of the recovery being the dominant trend, a breakout above $1.2360 would then open a test of resistance at $1.2465 which is the first real lower high. If $1.2465 can be breached then there would be a decisive change in the outlook. Read More...