DislikedGBP/USD: Still Bid; Barriers at 2.0900 Targeted San Francisco, Nov. 2. Regardless of USD bearish sentiment, the persistent gains in EUR and GBP continue to smack of a larger shift into a currency basket and away from the USD peg which would account for the continued fresh record highs in both Cable and Euro. Cable is at 2.0875 and back at session highs with the market targeting a barrier option at 2.0900. Ostensibly, the market is also keen to take out 1.4536 on EUR/USD in the process as well. A bounce back in GBP/JPY, as US stocks pare morning losses, has helped the gains with GBP/JPY now at 239.62. Resistance is eyed at 240.25/30, a break of which targets another move above 241.00 to recent highs near 241.35/40. A bank recommendation to short the cross emerged today, which could see the market short if the cross and GBP/USD continues to rally, adding to upside momentum.Ignored
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"Millionaires don't use astrology, billionaires do"
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Trust price. Know yourself.
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"Millionaires don't use astrology, billionaires do"
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Trust price. Know yourself.
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its just money
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If I Go Broke Trying Then I Will die happy.
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