GBP comes under further pressure as supports give-way.
February 22, 2012 Leave a comment
Euro/USD: A much quieter session was experienced today with the Euro remaining trapped within the confines of a relatively tight trading range. Resistance in the 1.3266 area restricted rally attempts whereas support at 1.3212 cushioned falls. The European day finally closed in the 1.3229 region
GBP/USD: The GBP remained under downward pressure today and after early rally attempts were thwarted by resistance in the 1.5814 area disappointed long liquidation and fresh shorting pushed the market sharply lower with support at 1.5649 coming under close examination. The session finally closed in the 1.5672 zone.
USD/JPY: The USD uptrend continued unabated today and after opening in the 79.85 area the market pushed higher for the entire session. Peaks were established late in the afternoon in the 80.40 region with prices finishing only just a little under here at 80.30.
GBP/Euro: The short term GBP downtrend continued today and after a short period of consolidation around 1.1930 prices accelerated to the downside late morning. This took values to a low point of 1.1823 before finally closing in the 1.1830 zone.