GPBUSD
Last week saw a surge in the stocks market. Despite ECB lowering the rates by a quater point, the good news came both in the UK non farm employment data and the US job data.
Looking at the series of news this week - the expectation is for the German to do well.
On the technicals, based on Fib retracement, both pound has retrace from their low at 1.483 to hit the 61.8 level at 1.556. Taking another look at the CCI index, all indicators point to a movement down.
I put the support at 1.54, but of course a breakthrough in news can stir the pound to a new high of 1.576.
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