Home » Pounds To Dollars Daily Chart » Pounds to Dollars Forex Analysis 30 July 2010

Pounds to Dollars Forex Analysis 30 July 2010

dollars to pounds

Pounds to Dollars Forex Chart 30 July 2010

The upwards trend for cable continued yesterday but with a muted tone as the pounds to dollars pair ended the forex trading session with a small doji cross candle suggesting that the market is taking a breather at this level before continuing on its upwards path once again.  Wednesday’s price candle broke above the 200 day moving average, a significant event, and one which has now established a firm technical picture for the pounds to dollars pair as a result.  This morning’s price action has reflected this weariness with an attempt to rise having failed at USD1.5662, interestingly the identical level to yesterday’s high which again may indicate a short term top.  The 200 day moving average should now provide the technical platform for the continuation of a move higher with the pair looking set to re-test USD1.60 in due course.

All the fundamental news for the pounds to dollars pair can now be found on my main forex trading site.

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