GBP/USD on the wrong foot - BTMU

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at Bank of Tokyo Mitsubishi explained that the pound is starting the new calendar year as it ended last year on a weaker footing.

    Key Quotes:

    "Cable is currently testing key technical support from the low from April of last year at 1.4566.

    A break below would likely then encourage a retest of the lows from May 2010 at 1.4231 and potentially even from early in 2009 during the peak of the global financial crisis at just above the 1.3500-level. In contrast, the pound continues to remain more stable against the euro.

    EUR/GBP is trading towards the top of its current range between the 0.7000 and 0.7500-levels, which has held for almost a year now."
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