| Global Interest Rates | |||
 Australia |
7.25% | ||
 Canada |
3.5% | ||
 EMU |
4% | ||
 Japan |
0.5% | ||
 Swiss |
2.75% | ||
 England |
5% | ||
 US |
2.25% | ||
Technicals
DAILY TECHNICAL STRATEGIST
GBPUSD: Recovers Slowly But Remains Biased To The Downside
GBPUSD: A second day of higher closes has seen the pair follow through to the upside in early trading today but as long as the new recovery remains contained by the 1.9598 level, its April 1508 low, GBP should head lower again towards the 1.9360/35 area, marking its 2008 lows and then the 1.9180 level, its Mar 0407 low. Weekly momentum indicators remain suggestive of further strength. On the upside, clearing the 1.9598 level should propel the pair higher aiming at the 1.9727/19 area, its Mar 0508/April 0108 lows initially and next the 1.9963/ 2.0026 levels, its Feb 2708/April 21 & 2808 highs. Further gains could trigger upmove towards the 2.0191 level, its Mar 2708 high and ultimately its Mar 1408 high at 2.0396.All in all, downside bearishness remains in place though a nearer term corrective recovery is now shaping up.
Support Comments
1.9360/35 2008 lows.
1.9180 Mar 0407 low
1.8902 Weekly 200 Ema
Resistance Comments
1.9598 April 1508 low
1.9674/53 April 2508 low/Aug 1707 high
1.9727/19 Mar 0508/April 0108 lows
1.9963/2.0026 Feb 2708/April 21 & 2808 highs
Daily Chart:GBPUSD
EURUSD: While ST Risk Continues To Point Lower, Nearer Term Recovery Is Now Hesitating.
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