GBPUSD paused below the 100 hour mva (green line). Caps the upside while below it but only sub-1.60 negates. Note weaker eurgbp [post-BOE decision giving some support (and weighing on eurusd).
ballarat RK 01:25:26 GMT - 03/26/2011
BuyAUDUSD Entry: Target: Stop:
just a test post
GVI Forex john 18:55:08 GMT - 02/25/2011
GVI Forex john 18:44:46 GMT - 02/25/2011
GVI Forex john 11:53:43 GMT - 02/25/2011
Poor second release U.K. GDP data today after a plummeting CBI retail sales sentiment figure yesterday create quite a dilemma for the BOE. Do they focus on (imported) inflation and raise interest rates and weaken the economy more? Keep in mind that an austerity program is due to hit shortly in the economy.
I feel this all creates a negative backdrop for the GBP. I would love to hear what people see in the longer-term technicals for the GBPUSD and EURGBP. Is there a trading opportunity here? TIA!
GVI Forex john 11:39:53 GMT - 02/25/2011
Starting a Discussion thread for GBPUSD and/or GBP crosses.
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