Tag Archives: GBP/USD

The Global Macro Pulse

The dollar rallied across the board in early Asian trading, led by USDJPY,

EURUSD: Price action may have muted yesterday, but direction remains quite clear.

EUR/USD remains heavy after failing to make any kind of recovery to test the $1.3159 level to start the new week.

With US markets closed for the Labor Day holiday volumes remained light tied to narrow range trade.

In Cable, JP Morgan notes that following the latest and decisive break below the 200 DMA (now resistance at 1.6695),

During August the pound weakened against the US dollar in terms of London closing rates from 1.6883 to 1.6579.

EUR/USD continues to move lower and is nowclose to its key support at 1.3105 (06/09/2013low).

Today’s highlights: EURUSD breaks to a new cycle low leaving the trend directly bearish to 1.3104, then our 1.3020/15 target.

In FX, EUR continued to inch lower to 1.312 ahead of Thursday’s ECB meeting.

The correction lower from the failed attempt at the $1.3220 level gathered steam Friday with the bearish close around

Traders positioned for month-end dollar supply on Friday as cable lifted to session highs of $1.6613 ahead of the 4pm London fix.

U.S. Review Data Details Show Economy Continues to Firm • Second quarter GDP was revised higher to a 4.2 percent annualized rate,