The Pound rallied for the fourth day against the Dollar and all majors, breaking resistance in a clear path upwards. The Pound got his boost up from a rarely affecting indicator of CBI's distributive trends report (retail activity reading), which exceeded expectations by far with the highest reading since April 2007. The pair is on a very strong trend up and until technical signs of reversal downwards appear, the momentum is positive and short positions might be risky in the long run. Overall, GBP/USD traded with a low of 1.5441 and with a high of 1.5597. Today, BoE Gov King is expected to make a speech.

 GBP/USD - Last: 1.5595

Resistance

1.5823

 
 

Support

1.5450

1.5348

1.5295

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