Pound Versus Dollar and Euro July 16th

FX Strategy Video > Currency Pairs Analysis

GBP/USD had a smashing day on the session Friday, as the Pound absolutely skyrocketed. The pair looks as if it is trying to reach the 1.57 to 1.58 levels as resistance. The market looks like the consolidation area from the last several weeks should continue to guide the market.

The EUR/GBP pair broke through two hammers, and this suggests that extreme weakness could be coming. The bearish flag from a few weeks ago looks like it wants to send this pair down to the 0.76 level.

Published on 13th of July 2012
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