Pound Thoughts

18 Ara 2014

Good data just out. Weak movement. Possible hangover from FOMC and packed up for the holidays. The pair may continue a consolidation while grinding slowly lower, spike down when the Fed raises rates and then bounce to break its downtrend. The approach to previous lows is slowing down, displaying caution in the price action but one more drop is not out of the cards in my opinion. I'm not buying into the pre-Fed move higher just yet.