GBP free at last. British pound sterling, GBPUSD finally broke out of range that began in last week Thursday trading session. This break caused a buying frenzy this morning. Could this be the move that cause us all to sing, “Free at last, free at last Thank God Almighty..?“
GBP Free At Last
The past five trading sessions have seen windless trading days with very little trend to hold on to. The day began at 1.6245 which later declined to 1.6229.
The morning sentiments began to change as the euro -zone reports began to trickle in causing a spike in the cable, pound sterling, GBPUSD pair. As the day unfold more and more it spelt further weakness for the dollar as current account debts widen.
Nonetheless, the day was saturated with a mixed-bag of news with something for everyone. From a trading standpoint, the pound sterling, GBPUSD market has since broken through the 6400 on the upside. It got most of our traders singing Hallelujah chorus as many made profitable gains from their open positions.
How did you do on the day? Please share your thoughts.
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