Pound Versus Dollar and Euro June 6th

FX Strategy Video > Currency Pairs Analysis

GBP/USD had a fairly quiet session on Tuesday, but still looks as if the bulls are trying to build some kind of base. After the Friday hammer, there has  been a fairly quiet resolve to this pair. A bounce could be coming at this point, and is probably overdue.

The EUR/GBP pair fell to find the 0.81 level on Tuesday. This could be a retest of the breakout level, but this pair is decidedly bearish, and the 0.82 level above could be trouble for the bulls. If we fall back down, there is a real chance of further consolidation.

Published on 6th of June 2012
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