The pair evolves in a multi-day rising channel which confirms its relative strengh over the short term.
The US Dollar Index traded flat after it nears important support of 73.40 ranges, most of the asset classes are trading stable after witnessing unprecedented volatility during past couple of weeks especially the equity bourses across the...
Greetings. Let’s pull up the GBP/USD. We saw the GBP/USD make a strong comeback in the past couple of weeks and it seems like there still be more potential room for upward movement.
Euro speculations amid upcoming meeting of Sarkozy and Merkel.
Market review for 8 – 12, 2011
The US Dollar Index depreciates on the event of most of the asset classes either stabilizing or posting gains, especially the equity bourses across the world; the Dow has gained for successive third session after major fall...
The pair continues to evolve in a long term trading range between 1,59 and 1,67 but it has confirmed a short term bullish bias after a break above 1,63 yesterday.
The pair is trading flat over the long term represented by its weekly chart. It evolves in a trading range between 1,59 and 1,67.
The GBP/USD rose after first falling on Friday, but fell short of closing above the 1.63 level that previously indentified the bottom of the consolidative action in the market.
GBPUSD’s rise from 1.5781 extended to as high as 1.6476, the subsequent fall is treated as consolidation of uptrend. Another rise could be seen after consolidation, and next target would be at 1.6600-1.6700 area.