Cable’s Move Up in View This Week

  • Forex Analysis

Weekly Market Outlook

After last week’s breakout, the pound might continue upward against the US dollar following a possible retracement back into the range. This would be primarily a technical movement with the focus on indicators as the dollar remains generally weaker in most of its pairs, with special emphasis on the stochastic and moving averages and possible support around $1.235. The important economic data this week to affect cable are British GDP and US PPI , while more key releases are due next week, primarily British inflation and claimant count change .

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