GBPUSD This week could be a volatile week for the Great Britain Pound vs US Dollar. With several economic events that have the potential to cause some high volatility, we may see some big moves on this pair. Today we had an inflation report for the United Kingdom. Tomorrow we have the Gross Domestic Product being released from the United States. Thursday will be a speech from the Governor of the Bank of England, and that will be followed, on Friday, by the Gross Domestic Product from the United Kingdom. […]

Over the last couple of months, most of the majors have struggled to give a clear direction. Trends were either non-existent or very weak. There was a lot of trading that was within defined ranges or where consolidation was occurring. Longer term traders were looking for a breakout of the ranges or a break from the consolidating. We are now seeing this. We are seeing some solid support/resistance levels broken in the last week or two. In order for any longer trend to continue, support/resistance levels need to be broken. […]