USD weakness continues to drive Cable

Cable selling off sharply on the back of poor GDP figure falling to a low of 1.5176, but recovering sharply and back over key support at 1.5220, and with USD continuing to look weak no reason why it cable can’t continue higher. It has already touched 1.5260 & beyond this price level we are then looking at 1.53 and beyond.

This afternoon we have the CB consumer confidence release at 2.00 pm London. USD weakness has also played its part in these moves.

USD index is now the one to watch – running into the release and also ahead of tomorrow’s FOMC.

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