Dollar Versus Pound and Kiwi July 24th

FX Strategy Video > Currency Pairs Analysis

GBP/USD had a strong sell off for the session on Monday, and looks very vulnerable at this point. However, we are approaching the bottom of the recent consolidation area. The markets are going to be in a "risk on, risk off" type of situation again, and this pair will be a good barometer. We think the 1.57 level should keep a cap on rallies as well.

The NZD/USD pair fell hard as well, in a chart that in many ways looks almost identical to the cable. The pair looks vulnerable as well, but also has a massive area of support between the 0.78 and 0.79 levels, so we could have a fight on our hands.

Published on 24th of July 2012
eTorro - Trading Starts Here

Start Trading Forex with up to $10,000

  • 100s Videos and FX Strategy articles
  • Advice from our FX traders
  • Practive free with using real time