GBP/USD Remains In A Range Ahead Of UK Economic Data
Capitol Academy | Dec 23, 2014 02:33AM ET
The pound dollar was little changed during yesterday trading session and remains moving within a range trading ahead of the release of important data from the British economy due today at 09.30 GMT.
The main events to watch for today:
- BBA Mortgage Approvals
- Business Investment
- Current Account
- U.K GDP
- U.S Core Durable Goods Orders
- U.S GDP
The pound dollar declined below $1.56, and we expect further retreat of the prices on the short term trading supported by the Hidden Bearish Divergence toward the main targets of $1.5572, then $1.5549. Which would represent good opportunities to enter buy positions. On the other hand, we can see that the Cable remain trading within a correction step which will push the prices high and to recover toward $1.5654, and a break above this level will send the prices to retest the $11.58 level.
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