The British Pound made a push forward in it’s journey upwards, getting close to 1.61. As aforementioned, serious resistance appears only at 1.67, so the road north is open. Review and Outlook… Last week, the British Pound broke strong resistance levels and closed above 1.59. This week’s scary news from North Korea ignited risk aversion. The dollar began the week stronger, and also the British Pound was hurt. Today, GBP/USD moved forward, broke the round 1.60 line and got closer to 1.61. This happened despite BBA Mortgage Approvals being worse than expected. British mortgages were expected to rise to 29.1K, but rose only to 27.7. The Pound made the move as American Existing Home Sales scored better than expected. Existing Home Sales stood on 4.68 million, instead of 4.65M that was expected. This is a nice rise from 4.55 million. OK, this can be explained by risk appetite, like yesterday. Risk appetite means dollar selling across the board. Well, that didn’t happen. The Pound stood out while other currencies hardly moved. Take the Euro for example: EUR/USD now trades under 1.40. It didn’t make any break upwards. Also the Swissy and the minors are still lagging behind. So, the explanation can be technical. The Pound has no significant resistance lines for around 600 pips. It could move forward quite easily, while other currencies are still struggling. Tomorrow, CBI Realized Sales will be published in Britain. This is a very significant figure that is expected to turn positive. This figure will get into the melting pot with lots of American figures. Read the outlook for the greenback: Contraction or Retraction? 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 Opinions share Read Next Forex Daily Outlook – May 28th 2009 Yohay Elam 13 years The British Pound made a push forward in it's journey upwards, getting close to 1.61. As aforementioned, serious resistance appears only at 1.67, so the road north is open. Review and Outlook... Last week, the British Pound broke strong resistance levels and closed above 1.59. This week's scary news from North Korea ignited risk aversion. The dollar began the week stronger, and also the British Pound was hurt. Today, GBP/USD moved forward, broke the round 1.60 line and got closer to 1.61. This happened despite BBA Mortgage Approvals being worse than expected. British mortgages were expected to rise to 29.1K,… Top 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.