Currency Focus

GBP/USD: Still going up

The UK trade balance figures have been weaker than expected, with a final -4.4B pounds against the expected -3.7B. This movement hasn’t affected much at the GBP/USD that is still on an upward trend and consolidating in the Ichimoku cloud.

On the technical point of view, Nicolle Elliot, Senior Technical Analyst at Mizuho Corporate Bank, points that the proper strategy is to "attempt longs at 2.0265 but be prepared to add to 2.0150; stop well below 2.0000. Cover longs ahead of 2.0400."