Lower USD drives the pair higher
It is the story of the day. Lower US dollar. Weaker retail sales in the UK did not stop a move higher, but the pair is approaching some key resistance above.
Looking at the daily chart, the 61.8% retracement, some swing lows and the 200 day MA are all approaching in the 1.5323-39 area. I would expect at least a breather in this area on the first look as longs lean against the area to take profit and perhaps traders looking to pick a top enter. However, on a break, look for stops as the squeeze continues.
