The uptrend on the daily GBP/USD remains intact despite the recent correction. The green GRaB candles show that there is still enough bullish sentiment and momentum to keep the trend intact. The 1.60 handle is being tested but there has not been an acceleration from this level lower through 1.59 and there appears to be enough gravitational pull at 1.60 to keep the bulls in control. Tomorrow’s Claimant Count Change and Unemployment Rate could be the determining factor as to who “owns” the 1.60 level and therefore also determine whether the uptrend continues or transitions into distribution. (full story)