The GBPUSD made short work today moving from what looked like a cliff lower to test the highs of the week.  The pair caught many traders of guard following Wednesday's GDP report which indicated the economy is moving closer to a depression.  This squeeze higher broke through resistance at 1.5580 and 1.5675 to stabilize around what is now support at 1.5675.  I would expect a bit of a pullback after such a large move higher but one has yet transpired.  Resistance is at 1.5720.

Sup              1.5675

Res              1.5720

Keane Insight:  Looking for a pullback towards 1.5580 or a push above 1.5720.

 

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