Forex Analysis

GBP/USD Analysis

The pair closed in NY Tuesday at $1.6212 after rate was pressed to lows of $1.6166 on end month dollar demand,

The pair started H2 of the Japanese fiscal year at Y109.65 and early attention was focused on

With a massive downside extension in the Euro overnight seen in the wake of unchanged jobless readings for the Euro zone and Germany,

With another sharp range down extension in the Swiss overnight a series of technical support levels have been violated.

Next longer term support on the weekly charts is seen about 55 points below this morning’s early trading levels.

The Dollar has soared to fresh new highs overnight in the wake of a series of unchanged Euro zone and

The US Dollar is winning by default and because of a lack of definitive growth in most areas outside of the US.

Even with generally positive UK growth results overnight, the Pound has continued to

German retail sales and French consumer spending figures are due for release thismorning.

Core bonds rallied again yesterday, especially in the US, while German bonds had to settle with only minor gains.

The pair closed in NY at $0.8719 last night after having traded a $0.8683 to $0.8760 range on the day.

The pair closed in NY Monday at $1.6241 after rate had managed to recover off its European morning lows