Tag Archives: GBP/USD

GBP/USD Analysis

The pair closed in NY Thursday at $1.6887 after rate had managed to recover off extended lows of $1.6857

Because Sterling is tracing a 5-wave decline from THE high,

EUR/USD is in an underlying downtrend.However, monitor the support at 1.3367 impliedby yesterday’s intraday bullish reversal (hammerformation).

Today’s highlights: DXY $ Index above 81.38/48 sees a base established, for 83.40/48.

EURUSD rose to 1.3399 from its overnight lows around 1.337, while USDJPY is at 102.77 after trading as high as 103.09.

Pressure on the $1.3390-00 region resulted in fresh 2014 and 8 month lows before the pair bounced a little from ahead of the 100-WMA.

The pair closed in NY Wednesday at $1.6913 after rate recovered off lows of $1.6890.

USD: DXY heading towards 81.7

A broad-based rally in the USD continues ahead of Wednesday’s event-filled NA session that will include the release of ADP employment figures,

EUR/USD has broken the key support areadefined by 1.3503 (see also the long-term risingtrendline from the July 2012 low) and

Today’s highlights: USDCAD above 1.0871/90 would see a larger base established.

EURUSD is steady at 1.3409 after its fall in late NYC trading, AUDUSD is similarly flat at 0.9382, and USDJPY is 102.09.