$GBPUSD slaughtered bears today as it charged to new yearly highs to close the week above 1.6250. That’s a bullish statement. The nice thing about this trend is that there have been corrections along the way so it is hardly overbought. And while this rally started in the midst of UK QE3, now that the central bank has turned hawkish there may be no stopping this sterling rally. Despite what you may think about the UK economy, it is the central bank’s turn in sentiment that strengthens sterling right now. And that makes this rally for real.
- UK March Mortgage Approvals Lowest Since May 2011: BBA (Forex Live)
- Tenants being priced out to make way for Olympic lets (The Guardian)
- David Cameron accused of idiocy over austerity mantra (The Guardian)
- The Most Powerful Chart Yet In Favor Of Stimulus (Business Insider)
- I Gotcha Weak GDP Right Here (Forex Live)
- GBPUSD Keeps The Momentum Going As Buyers Remain In Control (Forex Live)
- Constancio: ECB Ready To Adjust Policy According To Situation (Forex Live)