30 Nov 2016
Look like a better than expected good news in US GDP (q/q) report as well as US consumer confidence raise the GDB/USD pair instead of lowering it!
On the contrary UK consumer confidence fall short of expected this morning.
In addition, Federal Reserve member Powell said that the case for interest rate hike in December is stronger, given the better than expected economic numbers and unemployment rate.
As such, fundamentally, the GBP/USD pair will weaken.
Looking at the technical, resistance is at 1.257 (EMA55 day chart) then 1.267. Support at 1.241 then 1.234.
Look as if the CCI support a short term gain for the pound, which the pair now will be confine within the range bounded by EMA55 and EMA21 (1.256 and 1.245).
Trade within the confinement and if a break at either 1.268 or 1.236, then it will be a trend up or down respectively.
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