Dollar Versus Pound and Euro July 13th

FX Strategy Video > Currency Pairs Analysis

GBP/USD fell for most of the session on Thursday to break below the 1.55 support level. We see further weakness in this market, and would welcome any rallies at this point with sell orders. We think the 1.5250 level is roughly where we are going in the near term.

The EUR/USD pair got a bit of a bounce from the 1.22 level, to form a bit of a hammer. The bounce should only be an invitation to sell at higher levels, and this is what we are going to do. 1.24 looks resistive in our opinion.

Published on 12th of July 2012
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