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GBP/USD: Double Top Pattern Forms
The GBP/USD exchange rate pulled back for two consecutive days as traders focused on the upcoming UK inflation and retail sales data, FOMC minutes, and Jerome Powell’s statement at the Jackson Hole Symposium in Wyoming. It retreated below the support at 1.3500, down from this month's high of 1.3595. The GBP/USD exchange rate retreated after the US published mixed housing starts and building permits data on Tuesday. The report showed that the country’s housing starts rose by 5.2% in July after growing by 5.9% in the previous month. Another report showed that the building permits slowed from 1.39 million to 1.32 ... (full story)
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