PU: Pound / Dollar Outlook: A strong continuation up toward 1.5700 is likely later this week
The Pound to US Dollar exchange rate has rallied to 1.5593, "just a stone’s throw from key resistance, after long legged doji indicated a reversal," says Ipek Ozkardeskaya at Swissquote.
Ozkardeskaya says trend and momentum indicators are marginally bullish combined with strong data suggests that current rally has legs to run, "we would buy on dips as initial trigger level is at 1.5600 should lead to an rally extension to 1.5752."
(Be Aware: The above are spot market quotes, your bank will subtract their own spread when passing their retail rate. However, an independent FX provider will guarantee to undercut your bank's offer, thus delivering you more currency. Please learn more here, or use our custom live vs retail currency converter.)
