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Thread: Discuss the GBP/USD with a DailyFX Analyst

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#3 (permalink)

04-24-2007, 09:42 AM

Richard Lee Richard Lee is offline

DailyFX Analyst

Join Date: Jun 2005

Posts: 179

I would have to side with the test above prior to any retrace at this point. The technicals are still there after the slight retest that we saw this morning towards the 1.9975 support. Now trading higher above the 2 figure, you've still got future implieds that are pricing in the second rate hike. I would be inclined to watch for a break out above on sterling demand heading into the decision next week.

I like the call on 25 pips at this point, seems like a lot of traders are attempting to head off any potential downside correction way ahead of schedule.

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