As you may know FED chairman Yanet Yellen has spoken recently about the economy and said "I have a positive outlook in the US economy" and states that she would expect inflation to rise up to 2perecent in the year. And this could eventully lead to deappreceation off the US dollar ofcourse.
She also states that BREXIT would have an important impact on the US and it would play a large roll.
Michigan confidence forecasts lower probably because of less people looking for jobs (wich is stated in the report of the FED chairman yellen)
Again this leads back to less consumer spending ....
On the technical side of things the FTSE has broken the trend resistance wich could lead to a potentiall trend reversal at least in the short term.
GBPUSD
Indicates underlying strenght with RSI divergence to the upside.
looking at the hourly price is consolidating and is now at the low side and clearly rejected price at 1.43400
But when looking good there is a diagonal supportive trend wich als indicates this could go more bullish
She also states that BREXIT would have an important impact on the US and it would play a large roll.
Michigan confidence forecasts lower probably because of less people looking for jobs (wich is stated in the report of the FED chairman yellen)
Again this leads back to less consumer spending ....
On the technical side of things the FTSE has broken the trend resistance wich could lead to a potentiall trend reversal at least in the short term.
GBPUSD
Indicates underlying strenght with RSI divergence to the upside.
looking at the hourly price is consolidating and is now at the low side and clearly rejected price at 1.43400
But when looking good there is a diagonal supportive trend wich als indicates this could go more bullish