Pound Versus Dollar and Yen October 25th

FX Strategy Video > Currency Pairs Analysis

GBP/USD smashed into the 1.60 level on Monday, and then fell a bit. It is looking more and more like the area could produce real fireworks, and all the way up to the 1.61 mark. The 61.8% retrace is in play, and the route to 1.65 is clear is this area can be overcome.

GBP/JPY looks like a pair that is finding a slow healthy "grind" upward. The breaking of the Hammer formed on Monday could propel this pair higher, but remember: The "Dragon" is a risk-sensitive pair that can get canned by moves and announcements out of Europe, or anywhere else for that matter.

Published on 24th of October 2011
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