Euro Versus Pound and Dollar August 7th

FX Strategy Video > Currency Pairs Analysis

EUR/GBP had a very unimpressive session during the Monday trading day as the pair is starting to run into serious resistance at these levels. The 0.80 above should be even more intense, and a rally from this point will more than likely only lead to further weakness down the road. We are waiting to sell a break lower, or a failed rally.

The EUR/USD pair had a fall for the session, but regained a bit of its losses in order to form a hammer. Looking at this pair, a rally is probable - but it is also just as probable that it is going to fail as the chart looks resistive all the way to 1.27 or so.

Published on 6th of August 2012
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