Flash: GBP/USD potential upside to 1.7043 – FXStreet

FXStreet (Barcelona) - Ross J. Burland, Editor and Analyst at FXStreet, observes that a break above the ytd high beyond 1.6820 could open the door for a test of levels above 1.70 the figure.

Key Quotes

“Today’s action came of leveraged demand from the off in the London session triggering stops to a high of 1.6771”.

“Also to note, the UK has surprised us all on its performance, which by far has exceeded expectations from that start of last year”.

“In any respect, interest rates will need to go up but that could well be the fate of the UK economy in my opinion”.