Thursday, July 2, 2009

Barclays Capital: the pound / dollar fluctuates near the moving average

Couple pound / dollar fluctuates near the 21-day moving average, which today takes place at the level of 1.6375. According to analysts Barclays Capital, signs of divergence on daily charts indicate the formation of the summit. The daily closing above the 1.6375 reassure nerves bulls on the weekends. However, given the fact that the last couple of pound / dollar was unable to break above 1.66 marks, it is likely that the record levels of employment than in agricultural sector of the U.S. (16:30 AM EDT) will reduce the British pound. Exchange Bank strategists believe that in the event of the fall of the pound / dollar below the 1.6190 to 1.5650 steam rushed and possibly more. Now a pair of pound / dollar was at 1.6378.

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