MBCFX brings you the latest technical analysis on the GBP/USD pair for the April 21st in this video.
GBP/USD — The Sterling continues to rebound against the US Dollar supported by the decline of the UK Unemployment rate and the pair has offset the losses which incurred during the beginning of last week. Due to the release of consecutive positive economic data from the US supporting the largest economy in the world, the cable is expected to continue its bullish trend ahead of Monetary Policy meeting of Bank of England on Wednesday as well as the release of UK Retail Sales index due on Thursday. Today we expect thin trading due to lack of liquidity as most of major world markets are closed to celebrate the Easter holiday which lasted for 3 days. As we can see on the daily chart the GBP/USD is trading within an ascending channel and the pair has rebounded towards the upper line of the Bollinger bands above 1.68 level and during this week we expect further recover of the cable towards the main targets stated in our daily newsletters.
Posted on Forex Video Zone.
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