Monday, November 1, 2010
In Memorial Wedding Program Wording
GBP / USD: $ 1.60 Crossing: What's Next?
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.
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.
Trade Forex and reduce brokerage fees through Cashbackforex! 
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.
Trade Forex and reduce brokerage fees through Cashbackforex!
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