Forex Analysis

GBP/USD Analysis

The pair closed in NY at $1.5637 after rate had extended its corrective pullback,

The pair closed in NY Monday at $1.2438 after rate recovered off intraday lows of $1.2415 post London 1600GMT fix to $1.2479.

The pair opened at Y117.82 after trading a NY range of Y117.57 Y118.98.

The short covering bounce in the Euro has brought the currency within striking distance of

The short covering bounce in the Swiss appears to have run its course and

There appears to be enough residual global uncertainty to keep the Yen in a minor upward track today.

The Non-reportable Net Long position in the Dollar has hit a new record level at 13,491 contracts,

The slide in the Canadian is likely to continue in the short term as fears of even lower

A quasi double top in the Pound last week around 1.5735 looks to

Poland still in deflation.

AUDUSD dipped to 0.8223 and EURUSD softened to 1.2438,

Today focus will be on US data with the release of industrial production.