Downbeat economic data and weakening risk mode maintain pressure on sterling
Cable remains firmly in red for the third straight day and pressures pivotal support at 1.2250 (Fibo 76.4% of 1.2074/1.2813 / Monday’s low, the lowest in one month).
Fresh weakness probes again into thick daily cloud after Monday’s dip…
Read More...
Read More...
Euro remains in red despite better than expected inflation data as risk sentiment fades
The Euro traded within 1.1200/50 range in Asia / early Europe on Tuesday and maintaining negative bias, with session low under pressure again.
Monday’s strong recovery rejection that left (bullish) daily candle with long upper shadow,…
Read More...
Read More...
Dollar rises to three-week high after upbeat US housing data
The pair jumped to three-week high (107.80), up almost 0.6% since opening, as dollar regained traction and rose against its major counterparts.
Record rise in US pending home sales (44.3% in May vs 18.9% forecast) additionally boosted…
Read More...
Read More...
Bears regained control after recovery stalled; daily cloud top comes under pressure again
Cable dipped to the session low at 1.2314 in Europe after recovery stalled at 1.2389, keeping Monday’s action in red for now.
Last Friday’s long bearish candle (the pair was down 0.67% for the day) and close below 1.2356 (Fibo 61.8% of…
Read More...
Read More...