Do we have a new channel?
It looks like the GBP/USD has re-defined its channel. It can do that. It can go anywhere, and do anything, it damn well pleases.
All we can do is look at our chart and ask, ‘What is my chart showing me?’ — and then tag along wherever the currency pair chooses to go.
As Mike pointed out, the Overnight Period looks promising tonight.
Here are the high-impact economic news releases scheduled for the GBP and the USD for this week.
Note that we have CBI Realized Sales figures coming out at 6am EDT (10:00 GMT) Tuesday morning.
Here’s what FF has to say about this report:
Source ---- Confederation of British Industry (latest release)
Why Traders Care ---- It’s a leading indicator of consumer spending because retailer and wholesaler sales are directly influenced by consumer buying levels;
More in a couple of hours.
Clint