USD has been quite strong as of late. Strong growth and better-then-expected economic data have propelled the dollar in the recent weeks; however, with such a strong move, a pullback is necessary to retest previous support levels. For GBP/USD, that area is also aligned with the 61.8% Fibonacci retracement level. You can also see our trend line may come in to play around this area--as evidenced in the chart. All signs point to further dollar strengthening upon minor retests of previous support levels. Similar setups can be seen on AUD/USD as well as EUR/USD.
Live prosperous and profitable!
Live prosperous and profitable!