The US dollar stated the new trading week with Sunday gaps against many of its peers. For the pound, this was an opportunity to break above the 1.6747 level which was the peak seen in May 2011. So now, cable trades at the highest level since November 2009 – 4 years and 3 months. 1.6767 is the new high. While liquidity is still relatively low, the move seems to hold ground Japan joined the early trade. Another small factor supporting the pound at the early hours of the week is a strong rise in house prices. According to Rightmove, prices rose 3.3% in February from January and 6.9% year over year. The next line of resistance is 1.6877, which was a peak back in 2009. The post crisis high of 1.7042 is the ultimate level of resistance. 1.6747 turns into immediate support, followed by 1.6668. Here is the weekly chart: This is a very strong start to a very busy week which features inflation numbers, employment data, the meeting minutes and retail sales. For everything about the pound, see the Pound USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Japanese GDP growth badly disappoints – BOJ action coming? Yohay Elam 8 years The US dollar stated the new trading week with Sunday gaps against many of its peers. For the pound, this was an opportunity to break above the 1.6747 level which was the peak seen in May 2011. So now, cable trades at the highest level since November 2009 - 4 years and 3 months. 1.6767 is the new high. While liquidity is still relatively low, the move seems to hold ground Japan joined the early trade. Another small factor supporting the pound at the early hours of the week is a strong rise in house prices. According to Rightmove, prices… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
