Dollar Versus Pound and Euro August 29th

FX Strategy Video > Currency Pairs Analysis

GBP/USD had a fairly wild session considering how tacit the market was on the whole Tuesday. The pair has found possible support at the 1.58 handle, and this could be a return and "retest" of the area. This triangle points to a 1.63 target, and if we break the highs from the session on Tuesday - this is what we are aiming for.

The EUR/USD pair rose as well, but has a lot of noise above it. It looks relatively strong at this point, but we simply don't trust Europe at the moment, and as a result will need to see the overhead clutter broken above in order to go long.

Published on 28th of August 2012
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