The UK posted a better than expected GDP figure, and the US disappointed with a weak one. After the former outcome, GBP/USD leaped and crossed the 1.54 line.
And after the latter, cable is touching the 1.55 line. Can the pair recover all the lost ground seen in recent months?
The chart shows the first and second legs of this move. Â 1.55 seems to be a barrier hard to cross.
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Also EUR/GBP is falling as the euro has limited room for rises as a rate cut is looming in the euro-zone.
These rises of the pound come after it was pounded by rating agencies: first Moody’s and then Fitch. The credit rating downgrades pushed the pound lower. For more on the pound, see the GBP/USD forecast.
