GBPUSD hits 1.69 resistance – fresh new high in 4.5 years.

GBPUSD hits 1.69 resistance – fresh new high in 4.5 years.

The British pound continued to move up slowly but firmly higher against the U.S. dollar and finally touched 1.69 resistance – a fresh new high have not seen in 4,5 years,  since August 2009.  The consistent up trend of GBPUSD was driven by growth speculation, M&A deal between Pfizer and AZ flow as well as  good economic data.  

Tomorrow’s Market PMI Manufacturing report may push GBPUSD break 1.69 level to continue its uptrend.  However, the downside risk is high, GBPUSD may need to retrace before continue its uptrend.

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