$GBPUSD: Jump Higher Brings Old Fashioned Values into Vogue. Weekly forecast here:
broke through the 1.31000 level last Thursday and going into the weekend the currency pair has provided sustained value within upper realms.
Financial institutions which have likely been betting on the recovery of the higher GBP/USD value range are likely not surprised either, they have been playing a long-term game. Day traders who have been fortunate enough to believe the GBP/USD would continue to increase in value have likely been rewarded too.Weaker than expected U.S inflation data last week, perhaps made traders believe the U.S Federal Reserve will have to begin curbing their hawkish rhetoric.of July, but if U.
While U.K economic figures are crucial for the GBP/USD regarding Bank of England rhetoric, U.S data is important too and manufacturing reports will come via the Empire State Manufacturing Index numbers on Monday and the Philly Fed reading on Thursday.There is no arguing the trend of the GBP/USD at this point, but day traders should remain realistic regarding price targets.
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