US data came out worse than expected, and currencies are partying. When retail sales and inflation figures all miss expectations, the dollar reacts. The pound received some good news this week but Brexit still looms. Nevertheless, the fall of the greenback is clearly seen in GBP/USD. Update: Well, that did not last too long. GBP/USD breaks with momentum to a 10-month high Cable is topping the very round 1.30 level, reaching a high of 1.3011 so far. On the way up, Sterling crossed resistance at 1.2980 and is heading towards downtrend resistance. The pair’s 2017 high is 1.3050 and since then, it registered a lower high at 1.3030. The line currently stands at 1.3025. If this attempt to break higher fails, it will confirm the line and serve as a third lower high, making it a big bearish sign for the pound. And fundamentally, if the pound cannot take advantage of the great weakness of the greenback while other currencies are partying, it is of worry to GBP/USD bulls. So far, the pair follows the pack and rises, but watch out for this level. More: GBP: Is BoE The Next Central Bank To Raise Rate; What’s Next For GBP? – BTMU Here is the chart, note the downtrend resistance line. 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 US core inflation only +0.1%, retail sales fall 0.2% – Yohay Elam 6 years US data came out worse than expected, and currencies are partying. When retail sales and inflation figures all miss expectations, the dollar reacts. The pound received some good news this week but Brexit still looms. Nevertheless, the fall of the greenback is clearly seen in GBP/USD. Update: Well, that did not last too long. GBP/USD breaks with momentum to a 10-month high Cable is topping the very round 1.30 level, reaching a high of 1.3011 so far. On the way up, Sterling crossed resistance at 1.2980 and is heading towards downtrend resistance. The pair's 2017 high is 1.3050 and since… 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.
