Volatility on the Cable, USD Rebound

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The USD Index has tanked all week but especially today during the early hours of the European session on Thursday. The Cable was one of the biggest winners against the Greenback initially, touching a new 2017 high of 1.3047 before plunging 160 pips to a low of 1.2887.

At ForexSignal.com we enjoyed the initial rally before the plunge as we bought the GBPUSD at 1.2959 on Wednesday and reached our Targets this morning.

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The USD rebounded as U.S. stocks recovered from one of its worst selloffs for 2017 and in light of strong economic data, despite the recent political events in the U.S.

 

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