Taking 38 pips profit

It seems that I was lucky last night. My internet connection interrupted but it was not the case for the British pound depreciation! A combination of relatively weak economic data from Britain, especially Nationwide Consumer Confidence released last night, and a clearly more stable dollar brings GBPUSD to as low as 1.9539 today.

The price hits Take Profit at 1.9606, about 08:00 GMT, making 38 pips profit.

However I think the pound could rebound especially after interest rate decision meeting on Thursday, when the MPC is expected to keep it on 5 percent, concerning on inflation outlook in the medium term.





- Updated picture (8:00 am EDT) -