GBP/USD rebounded from lows
GBP/USD rallied to $1.5120 on Wednesday, but later on returned back below $1.5100. Yesterday the cable dipped to $1.5010 on better-than-expected US confidence figures, but was contained by the strong $1.5000 barrier.
We will be ready to sell the cable on a break below $1.5000 with a target of $1.4850. Tomorrow the bunch of US data could create a necessary stimulus for a break lower. Pay attention to the preliminary US GDP and to the price changes in consumer goods and services. Some bullish correction is also possible in the near term, but the $1.5200 resistance is expected to hold the buyers, causing another selloff of the pound.
Chart. Daily GBP/USD