Dollar Versus Euro and Pound July 2nd

FX Strategy Video > Currency Pairs Analysis

EUR/USD had a wicked reversal due to Merkel's blinking at the summit. The Friday session saw some of the largest gains in months. The real question is where do we go from here in Europe? This should be a nice short-term rally - before reality sets in.

The GBP/USD did exactly the same thing, but now sits just below a massive resistance area. The BoE should be easing this week, and this could also weigh on the pair as well.

Published on 1st of July 2012
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