Pound Versus Euro and Dollar October 15th

FX Strategy Video > Currency Pairs Analysis

EUR/GBP tried to rally during the Friday session, but found itself far too stretched in order to continue higher. The resulting candle was a shooting star, and as a result we saw this pair show signs of weakness. As we are at the top of the consolidation area - this isn't a surprise.

The GBP/USD  pair had a slightly bullish session on Friday, but it was enough to convince us that the 1.60 level is offering strong support. With this in mind, we are buyers again, as we run towards the 1.63 handle.

Published on 13th of October 2012
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