GBP/USD vulnerable after failing at 1.5738 correction resistance
FXstreet.com (Barcelona) – GBP/USD will need to force the cross above 1.5738 to negate the potentially very bearish set-up on the daily chart.
GBP/USD will rely on US Durable Goods data for direction Monday
After failing to break and close above key “correction resistance” at 1.5738 last week, GBP/USD bulls will have to hope for more weak data from the US on Monday – in the form of durable goods data – to reverse the recent weakness in the cross. There will be no data out of Britain Monday since it’s a summer bank holiday. The bulls instead …read more