GBP/USD Analysis:
Euro hit high, Dow hit 10000, crude surpass $75.. All these continues to point to a weakness in the dollar. The dollar index has fallen bleow its key support at 76.
With better than expected news from UK yesterday, it spike the pound up another 200 pips.
With no UK news in the afternoon, any further spike will depend on this evening US unemplyment claims at 2030hrs SGT.
Technically, the pound cleared the first resistance at 1.602, then 1.612. WMA5 has not clear EMA200 and neither has it punch through EMA100 and EMA55 before a considerations for a breakout up.
Pound may return to its supprt at 1.579.
Trade Plan suggestion: Direction is very uncertain. Thus trade taking small profit. Either long or short may be right. Beware of resistance and support.
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