The Greenback continued to trade firm against most of the FX majors on the event of continued correction in the prices of most of the asset classes especially the equities. Double dip depression in the US is...
July low (1,5780) has offered some support to the pair but we the downside pressure remains intense.
The Dollar Index (DX) continued to appreciate after finding support at 73.60 ranges on August 29, 2011 on the event of softer equity bourses across the world. Double dip depression in the US is still glooming resulting...
With the risk aversion sentiment driving the market, the Cable has been weakening as well, breaking below 1,60 and now testing July low at 1,5780.
The GBP/USD pair fell hard on Friday after forming shooting star candles the previous two sessions. As we mentioned before, this is a bearish sign, and it finally triggered on Friday to produce sell signals.
GBPUSD is facing 1.5781 key support, a breakdown below this level will indicate that the long term uptrend from 1.4230 (2010 low) had completed at 1.6745 already, then the following downward move could bring price to 1.4500...
The US Dollar stepped back against the background of an increase in the stock
The pair is also under an intense downside pressure after a break below another key level at 1,60.
The GBP/USD pair rose during the Wednesday session, but failed to close above the 1.6000 level. The resulting candle is a “shooting star-like” candle that appears at the bottom of the recent range.
Franc dropped after the announcement of the National bank of Switzerland.
