Dollar Versus Pound and Euro July 17th

FX Strategy Video > Currency Pairs Analysis

GBP/USD fell for part of the session on Monday, but found a bid in the end and formed a hammer. The pair looks strong in the short run, but there is a big resistance area just 75 pips above current levels. It is because of this that we are willing to wait for a sell signal above the 1.57 level.

EUR/USD fell for much of the session only to bounce based upon poor retail sales in the US. In other words, there is open speculation of easing out of the Fed now. However, even if this does happen, has anything changed in Europe because of it? We think selling from higher levels will be possible soon.

Published on 16th of July 2012
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