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GBP Free At Last
By Rox Sweetman | December 16, 2009
British pound sterling, GBPUSD finally breaks out of range that began in last week Thursday trading session causing a buying frenzy this morning. Is this a move that could cause us all singing, “Free at last, free at last Thank God Almighty, free at last?”
GBP Free At Last
The past five trading sessions have seen windless trading days with very little trend to hold on to. The day began at 1.6245 which later declined to 1.6229.
The morning sentiments began to change as the euro -zone reports began to trickle in causing a spike in the cable, pound sterling, GBPUSD pair. As the day unfold more and more it spelt further weakness for the dollar as current account debts widen.
Nonetheless, the day was saturated with a mixed-bag of news with something for everyone. From a trading standpoint, the pound sterling, GBPUSD market has since broken through the 6400 on the upside. It got most of our traders singing Hallelujah chorus as many made profitable gains from their open positions.
How did you do on the day? Share your thoughts.
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Tags: GBPUSD, gbpusd breakout, Pound Sterling, trading
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