GBPUSD breakout higher looming

27 thg 11

Intraday Update: As the FX market goes into month end flow trading (on a big US holiday week) the GBPUSD traders are paying very close attention to the 1.2620's. A break of this level today would allow for a move back to the 1.2725 level and near channel resistance. Massive US data dump today at 8:30am ET with prelim GDP, unemployment claims and durable goods orders. PCE a little later after.