Tuesday, June 10, 2014

The Pound falls, but it stays within the recent range.

The Pound has been retreating versus the Dollar during today’s session as we see it on the daily chart below of the GBP/USD, courtesy of the Forex Broker Activtrades http://www.activtrades.co.uk/. On this same chart we can also see how during the past few days the price has been oscillating around the 1.6800 level, waiting for some type of fundamental reason to move. Today’s fundamentals out of the United Kingdom were mostly in line with expectations, but the GBP/USD still falls on Dollar strength. If the price continues falling, then we should be attentive to a possible visit of the support at the 1.6700 level from where it may bounce to the upside.


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4 comments:

  1. bewayopaJun 10, 2014, 5:43:00 PM

    Good analysis. I want to be watching developments.

    ReplyDelete
  2. UnknownJun 11, 2014, 7:22:00 AM

    great analysis.. I dont know if its strength of the dollar or weakness of Europe currencies. or both

    ReplyDelete
  3. AnonymousJun 11, 2014, 9:48:00 AM

    Thank you for the analysis i'll keep an eye onthe 1.67 level.

    ReplyDelete
  4. UnknownJun 11, 2014, 12:02:00 PM

    Thanks for such an informative analysis.

    ReplyDelete

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