Technical Analysis – GBPUSD Daily: uptrend continues; possibly eyeing 3-year high at 1.6740
Posted on January 22, 2014 at 10:08 am GMT[caption id="attachment_12803" align="alignnone" width="550"] (click to enlarge)[/caption] As can be seen from the chart, the pound has performed particularly strongly against the US dollar during the last 6 months following the 1.47 low in early July 2013. Following a 2-year high at 1.6592 on the first trading day of 2014 (January 2nd), the pound has corrected somewhat, making a low just above 1.63. It has since rebounded, topping 1.65 following supportive economic data in the form of stronger-than-expected retail sales [..]