Yesterday news end with mix turn out. New homes sales hit low, while unemployment claims saw a drop. The Dow inch up with moderate 34 points.
Over at the Euopean side, the market also end fairly yesterday.
I will expect the movement on the GBP as moderate, with no major news. However the UK consumer confidence may tell some sign of the UK economy.
Technically, using the daily chart, the GBP moved up. A resistance to watch is 2.0300, the next at 2.0458. CCI indicate a continue up trend, pushing for another overbought situation. If the last 2 days saw the formation of the B-wave, yesterday will mark the begining of the C-Wave up towards the resistance line.
The support line is at 2.0200 and 2.0180 if the WMA5 reverse and cross the EMA100 and EMA200 using the 1 hour chart
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