Pound Versus Dollar and Loonie June 20th

FX Strategy Video > Currency Pairs Analysis

The GBP/USD has printed two hammers in a row on the daily chart. This bodes well as it shows a propencity for strength in the near-term marekts. However, the 1.65 area seems likely to hold as this trade should be a short-term trade at best. If the 1.60 gives way - look out below.

The GBP/CAD isn't as clear as far as the candle formation. However, the hammer a couple of days ago, and the dojis since - this pair could be analyzed in a similar manner as the GBP/USD.

Published on 17th of June 2011
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