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The British Pound shows strength at every turn. Investors take no respite and keep squeezing the last pips from the rate. I myself wonder if the corrections are profit taking or deliberate price cuts in order to select more contracts at a better price. Currently, we expect bad data from 8am EU time. That is why I have marked a correction that has a chance to stop near the line (we can even expect a breakthrough, because the line is conventional). The next afternoon’s data are expected to improve the situation in England, so a breakthrough above the marked level would have a fundamental basis. Of course, if the data are in line with forecasts.
