May 6, 2013
GBPUSD - Top of Channel
FXstreet.com (London) - So far today in the European session, Sterling has shed 20 pips to the 1.5565 having traded higher at 1.5585. Traders in the UK are out today for a sunny Bank holiday Monday so the price action is likely to remain in a consolidated phase while the rest of Europe chew on the sounds from the ECB of last week. As stated previously, there is resistance at 1.5605 which is the top of a channel commenced in March.