Despite falling to as low as 154.00/10 last week, the British pound rebounded strongly and rose to as high as 160.20/25 before retreating. We are taking the view that the correction from the temporary top at 162.58 has ended at 154.00/10 and consolidation with upside bias would be seen for…

Although the British pound did rally above the indicated resistance at 1.6664 and rises to as high as 1.6745 today, profit-taking together with the renewed dollar’s strength against other major currencies pressured price again, suggesting another temporary top is made and further gyrations inside the range of 1.5803-1.6745 in a…

The pair is currently trading near the lower bound of the price channel, potentially an entry point for traders looking to go long the pair. Although this is a relatively new channel, there have already been several tests to both sides of the trendlines, helping to validate the strength of…