Pound Versus Dollar and Euro July 4th

FX Strategy Video > Currency Pairs Analysis

GBP/USD sat still during the session on Tuesday. While this seems like a non-event, the fact is that we just had a massive surge higher....and still haven't pulled back. This suggests that there is real underlying strength in this move, and the 1.57 - 1.58 level is currently standing in the way of the move higher.

The EUR/GBP pulled back a bit during the session on Tuesday, but most importantly the pair still has a bearish flag that is viable. The 0.80 level is still acting as support, so a break below it on the daily close would be significant.

Published on 3rd of July 2012
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