GBP/USD - Explodes Higher From Bullish Pin BarThe GBP/USD exploded higher yesterday following the bullish pin bar that we discussed in our market commentary on Tuesday. Today we get a counter-trend bearish pin bar from key resistance so now would probably be a good time to consider taking profit or moving stop-losses to break-even to avoid being caught out by a sell-off. This signal, though, is by no means a sell signal as the trend is still well and truly to the upside.…See More
Factory production in the mid-Atlantic region expanded in April at the fastest pace in seven months, but across the Delaware River in the New York Fed growth slowed to its lowest level since last November. The Philadelphia Fed Business outlook Index came in at 16.6 well above the 10.0 forecast and almost doubling March's 9.0 reading. The Philadelphia Federal Reserve region comprises the eastern two thirds of Pennsylvania, Delaware and Southern New Jersey.In New York the story was reversed with…See More
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