Dollar Versus Pound and Loonie July 5th

FX Strategy Video > Currency Pairs Analysis

GBP/USD fell during the session as the world waits for the Bank of England's monetary policy statement. The pair more than likely suffered from some profit taking as traders will try to cut back on risk before the announcement.

The USD/CAD pair did very little, and although it bounced - it should be said that the oil markets were almost non-existent as well. The pair is still below the recent support level at 1.0150 - and we think the pair travels down to the parity level as a result.

Published on 4th 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