The dollar eased further against other majors today and especially against the Japanese Yen it is down 0.70%, currently at 97.35 after the 1.3% Friday’s drop. EUR/USD at 1.3050 0.15% higher and the cable has surpassed 1.5500 level 0.20% higher than opening. The weaker than expected GDP growth figures on Friday seem to weight for this dollar depreciation. FED and ECB policy meeting will be the main focus of the week.
Trade Idea
GBP/USD Daily Chart:
The cable is in a nice bullish channel. The top channel line will act as resistance, but a break outside of the channel may accelerate gains further. The pair can be bought at dips targeting higher.
GBP/USD Daily" title="GBP/USD Daily" width="1280" height="845">
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