In line with expectations, an announcement of the Second Estimate GDP helped the Pound to slightly recover against the American Dollar. In result of the surge, the currency pair has reached the upper boundary of a senior descending channel, but then was forced to make a rebound.
The fact that the pair has subsequently failed to slide through the weekly S1 at 1.2799 indicates that it might make a breakout to the top. However, even if it happens the further movement most likely will be neutralized either by the 100-, or the 200-hour SMA. But in the meantime, there is a need to take into account the impact that will be brought by the upcoming Janet Yellen speech.
