Dollar Versus Pound and Yen July 11th

FX Strategy Video > Currency Pairs Analysis

GBP/USD pair fell during the session on Tuesday in order to retest the 1.55 level. This area is the bottom of the recent consolidation area, and we think that the hammer that was formed for the session could see a bounce back to the top of the rectangle at this point.

The USD/JPY continues to grind sideways, and it appears that the 79 level looks likely to be rather supportive in the near term. We like this pair for a longer term trade, but we need to first clear the 80 level, and then the 80.60 level.

Published on 10th of July 2012
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