All Things Forex Trading Room: What is Keeping the British Pound Capped?

In the trading room today: What is Keeping the GBP Capped? With the GBP looking heavy and unable to build a strong momentum, we take a close look at the sterling and explain the reasons why the GBP is being capped against the EUR and the USD for the time being, we analyze the test of an important support level in the GBP/USD currency pair, we continue to monitor the range in the EUR/USD pair, we note the pullback of the USD vs JPY, we highlight the market’s reaction to the Japanese Retail Sales, the German Unemployment Rate, the U.K. CBI Distributive Trades, and the U.S. Consumer Confidence, we discuss new forecasts from Bank of New York-Mellon and Commerzbank, and prepare for the trading session ahead.

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