Pound Versus Dollar and Euro September 28th

FX Strategy Video > Currency Pairs Analysis

GBP/USD rose on Tuesday, but gave away a lot of the gains in late American trading. The pair is a "risk on" trade, and with the news coming out of Europe that their is a disagreement on the amount of "hair cut" to be taken on Greek bonds, this could mean trouble for the markets as a whole. With the recent downtrend, we are selling rallies in general, and cannot buy as the move has been so strong.

EUR/GBP rose on Tuesday, but fell later - forming a shooting star at the end of a bearish run. This generally shows a proclivity to fall and could be a signal to sell the EUR/USD - not this pair as this can be used for relative strength.

Published on 27th of September 2011
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