The Japanese economy issued today many date that showed the nation’s export led recovery is losing steam, especially after the industrial production declined, in addition to the higher unexpected unemployment rate which surged for the seven months in June, means a hindering in recovery.

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Unemployment Rate In Japan Unexpectedly Increases In June

GBPUSD: A rally on Tuesday saw the pair breaking and holding above the 1.5470 level, its July 13’10 high as well as its April 15’10 high at 1.5521. With this feat achieved, we look for the pair to head further higher towards its.50 Fib Ret.(1.7041-1.4226 decline) at 1.5628 or even

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GBPUSD: Clears The 1.5521 Level, Eyes More Gains

Though gapping higher on Monday, the pair is still struggling to break and hold above the 1.5470 level, its July 13’10 high. A firm hold above there is required to drive the pair further higher towards its April 15’10 high at 1.5521 and then its.50 Fib Ret.(1.7041-1.4226 decline) at 1.5604

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GBPUSD – Struggling At The 1.5470/50 Levels