The pound has hit a near five-year high against the dollar

Sigma-D

Established member
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This is from the BBC news website:-

The pound has hit a near five-year high against the dollar after a survey suggested that UK manufacturing grew faster than expected in April.

I appreciate their financial journos have to paste some ad hoc reason onto why something does this or that, but to link a 'near' 5 year high with a one off monthly data release is surely pushing it?

The up move started in August of last year and any technicians trading this will be looking at the monthly chart and thinking "Resistance". I wonder what the headline will be when the pound drops again?
 

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