Couple pound / dollar tests the 1.65 level for the first time in two weeks, but in the way of further growth, according to dealers, there are significant Ofer. However, currency strategist at Commerzbank tend to bear's prognosis for the pair and believe that after a couple levels will be 1.6620 or 1.67, followed by a rollback. Now couple pound / dollar is at 1.6500.
1 comment:
It is best to look at cable on a daily picture these days as it is the best illustration of the upcoming cap on risk currencies that we have been discussing for weeks now. After breaking the medium term mid uptrend channel, the pair has caught some support from one of the long term lower down trend channels at 1.6115, just above the support at 1.6080.
The top of the shoulder on this head and shoulders would come in between 1.6663 and 1.6745 so I expect some sensible short interest from anybody who is paying attention the long term state of the UK economy.
http://www.ac-markets.com/forex-news/forex-alerts.aspx
Good trading!
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