the daily chartist

GBP/USD recap 13.10;14.10.2015

published 5 years ago

 On 13.10.2015 Cable was destroyed because of the weak inflation data and dropped for 140 pips to the lowest point for the day at 1.512452 and closed at 1.52452. Price dipped, but the overall correction wasn't affected and no signals for a reversal revealed. 

 Yesterday Cable exploded with a 241 move for the day despite the lower average earnings index and Claimant Count Change. But the catalyst was the Unemployment Rate, dropping from 5.5% to 5.4%. Quickly the price recovered from the slight retreat after the first data, but the most expected was one for of course the labor situation. Pound continues to climb as of today, trying to reach its grasp on 1.55237 where there the price may find some resistance, but before that price has to breach 1.55.