the daily chartist

GBP/USD recap for 16.09.2015

published 5 years ago

 The big story for me personaly yesterday was from the UK and what the Pound did in the echoes from the data that we saw. As I mentioned yesterday in my analysis for 15.09.2015 for GBP/USD my scenario, the price not only tried to reach 1.54761, it burst trough it! The daily opened in at 1.53426, went a bit low to 1.53296 and then it rocketed 198 pips to its top at 1.55277 and just to find a close at 1.54930. Average Earnings Index - 2.9% in positive from forecast of 2.5% and previous (revised) at 2.6% and Unemployment Rate went down to 5.5% from 5.6%. Not only that, again, the broad US dollar weakness helped boost and strengthen the move, of course the higher wage inflation, wages are growing in the UK, and the hawkish comments from Carney.

 Yesterday's candle is big bullish engulfing candle and it seems that if the broad weakness in the dollar remains and (after the outcome of today's historic event) we may see the pound push up pretty fast to 1.56866.