GPB/USD recap for 14.09.2015
Cable started the day at 1.54270 and made a daily high of 1.54704 reaching the top resistance line and made a 47 pips drop back almost to its opening price closing at 1.54230. Before the close It dropped 45 pips again to 1.53721. Big moves with no clear catalyst. There were no news for the concerning the pair and the UK economy set for the day. BOE MPC member Haldane was on twitter answering questions, but with not even getting closer to talks about the monetary policy. It seems the pair has ended its big jump from 1.52565 and the down-move is ready to continue. This is how I see the pair in the short-term, as the Sterling will continue to move sideways in a range between 1.54761 and 1.51697. Again, this can all change after the aftermath of the FED news on Thursday.