While the Euro has failed to exceed the $ 1.40 mark this morning, the pound sterling managed to retain $ 1.60, exceeded Friday. A test was performed that night with a sudden drop on 1.60 very quickly compensated.
My comments will be brief because I only consider taking a position in the sense that seller. For now, the markets favor the parties of the Dollar-cons, whatever they are, and momentum seems strong. But you never know ...
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| GBP / USD 01/11/2010 (15Mn) |
I'll just monitor the conduct of courses in a possible test of $ 1.60 .
This crossing would be a bearish sell signal, ideal for short for several reasons. First, when prices repass in a major resistance, this reflects a failure of the Bulls, and then we must not forget that the pound sterling has made a bullish long way, certainly quite justified by the excellent governance proposed by the ruling coalition.
So for now, GBP / USD is in my watch list, pending a possible change in circumstances during the meeting, which is absolutely not the case at the time of writing.
Good trades.
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