24 Apr 2011

GBP/USD Analysis

Banks on hoilday, so don't expect much movement today.

Last week, the pound cleared the resistance above 1.64 and strongly above and away from resistance at 1.646. In fact it attempt 1.66, before returning to 1.65.

Dollars has been weaken as seen by more quality easing from the Fed. Commodities ramp up because of the weal dollars with gold and silver reaching record high. Gold hit $1500!