Category: Daily Forex Reports

After a 0.5% decline in the quarterly Prelim GDP report from the UK, the pound experienced a strong bearish session, falling greatly against all of its currency counterparts. The news trickled into European trading by holding the...

Update Time: 26 Jan 2011 07:31GMT INTRA-DAY GBP/USD OUTLOOK – +1.5780+ Despite cable’s brief bounce to 1.5838, current retreat after faltering below 1.5839 (prev. sup, now res) suggests recovery fm y’day’s low of 1.5750has possibly ended there...

Greetings. Just wanted to do a quick update on the GBP/JPY. We mentioned how Fibonacci retracement levels are important and look just where the currency is straddling – the 38.2% Fibo level.

Market Review – 25/01/2011 23:04 GMT Sterling tumbles after a shock contraction in the UK economy The British pound tumbled from Asian high of 1.6018 to 1.5750 after the release of much weaker-than-expected U.K. Q4 GDP data...

TODAY TECHNICAL LEVEL : Breakout Buy level : 1.3712.Strong Resistance : 1.3703.Original Resistance : 1.3689.Inner Sell Area : 1.3675.Target Inner Area : 1.3639.Inner Buy Area : 1.3603.Original Support : 1.3589.Strong Support : 1.3575.Breakout Sell level : 1.3566.

Hello. Let’s take a look at the USD/CHF hourly chart. The overall (longer) term appears to be down and we may see more potential downward movement in the shorter term.

The euro held near a two-month high against the USD during the Asian trading session on Tuesday, with $1.37 firmly in its sight as the market showed only the barest signs of fatigue after a 6% rally...