British Pound Consolidates Above 1.45 - Breakout Potential?
The British pound ended the day broadly higher on Thursday, thanks to a last-minute pickup in risk appetite that drove equities and carry trades higher at the very end of the US trading session. However, when looking at GBP/USD on intraday charts, the pair appears to be consolidated within a range of 1.4500 - 1.4670/1.4700, suggesting price may be bound to break either higher or lower in the near term. Which direction GBP/USD goes may depend most on risk trends, but the pair seems to be forming a bottom and leaves price more likely to break to the upside.
Related Article: British Pound Weekly Outlook
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