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Gbp and Euro update

Posted on March 2, 2009 at 13:12 in Short-Term Analysis by Valeria Bednarik

Both pair tested the supports mentioned in early posts, (Euro the 1.2550 zone, Gbp close to the 1.4020) where we saw a quick rebound. However both majors remain inside daily range, and American stocks opening will probably decide the trend for the rest of the day. Clear break under mentinoed zones will trigger more selling momentum as mentioned earlier.

Tags: dollar, Euro, gbp

4 Responses to “Gbp and Euro update”

on 02 Mar 2009 at 3:29 pm1Arun Kandal

Hi Valeria

There is more selling pressure on gbp, could again the sterling test the 1.3500 level in couple of weeks or sterling is preparing for a big rise about 1000 to 1500 pips. pls give your views thx.

Regards
Arun Kandal
on 02 Mar 2009 at 3:48 pm2Valeria Bednarik

Hi Arum! i don’t expect Gbp to rise and now that’s ready to break the 1.4000 I rather see the pair testing the 1.38/1.39 zone than rising such amount of pips. Break under could made the pair retest the 1.35 levels abd maybe from that zone, if holds, we could see the pair rising a good numbers of pips.Still, longer term time frames remain clearly bearish, and any upside movement will find in 1.4560 and 1.5000 zones tough resistances.
on 02 Mar 2009 at 4:01 pm3Arun Kandal

Thx for the reply

Regards
Arun Kandal
on 02 Mar 2009 at 4:15 pm4Valeria Bednarik

You are welcome!
Regards
Val

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