Euro remains under pressure as GBP recoups some lost ground.
July 24, 2012 Leave a comment
Euro/USD: The Euro eased a little again today in relatively quiet and consolidatory conditions and after early rally attempts were restricted by resistance in and around 1.2139 values slipped southwards once more. Support re-emerged in the afternoon session at 1.2077 before lifting slightly to finish the day at 1.2089.
GBP/USD: The past few day GBP falls were digested today with prices experiencing a rather choppy consolidatory session. With weakness uncovering good support in the 1.5486 area renewed buying interest was stimulated and the market worked a little higher to secure a peak of 1.5552 in the afternoon ahead of finally closing around 1.5531.
Euro/JPY: After early challenges of local resistance around 9504 failed to make any headway the Euro eased once more and in a rather laboured format headed towards 9444 before support re-emerged. However subsequent rally attempts were thwarted in the 9480 zone and prices finally closed in the 9448 zone.
GBP/Euro: The GBP recouped some of yesterday’s losses and after a short period of consolidation with weakness being cushioned by support at 1.2785 the market moved steadily higher for the balance of the session. Peaks were established in the 1.2858 region ahead of finally closing at 1.2849.