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Pound -  I have a dream
Forex
10/16/2018

Pound - I have a dream

While EURUSD stays under pressure, GBPUSD managed to show an amazing appreciation – it adds around 100 pips a day two days in a row.

While EURUSD stays under pressure, GBPUSD managed to show an amazing appreciation – it adds around 100 pips a day two days in a row.
Positive UK data only supported the move, as average wages increased to 2.7% from 2.6% forecasted reaching the highest level in 9 years. However, there was a fly in the ointment  - claimant count number climbed to 18.5K from 10.0K expected hinting on possible decrease of demand for workers.
Investors are in positive mood ahead of tomorrow’s EU summit expecting some form of a deal will be done. European officials only heat up the expectations with hopeful comments, despite Irish border issue is still on the table.
GBPUSD already managed to touch 1.3227 daily high with 3-weeks high 1.3297 as a next level. Once the breakout is confirmed, the next level to move will be at 1.3430

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