Pound Versus Dollar and Yen March 1st

FX Strategy Video > Currency Pairs Analysis

GBP/USD shot straight up during the Wednesday session as an official stated there was less of a chance for further quantitative easing by the BoE. With this being said, the Pound suddenly surged against the Dollar. However, later in the day Ben Bernanke failed to mention anything about QE3, and the market reversed as well. The 1.60 level has held, and we have a shooting star.

GBP/JPY rose again during the day as the Pound gained against many of the currencies around the world. However, the 130 level is a massive resistance point, so buying at this point is difficult. However, a pullback might be interesting.....

Published on 29th of February 2012
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