GBP/USD unable to hold 1.23 again
Earlier today, as the dollar came under a degree of pressure that allowed the GBP/USD to reclaim the 1.23 handle once more. It had done that a few times yesterday, but each time it stalled a couple of pips above it. Well, earlier the pound got to 1.2309 and had the opportunity then to extend some more, having broken above all those previous interim tops. Well, it failed and rather miserably too. The GBP/USD is falling back to session lows right now, dropping below 1.2260. The dollar is largely to blame for this move, but the lack of traction in the pound versus Europe is clear to see too. The drop back below the 50 day moving average (now at 1.2276) might have tripped some stops at the same time. Further support lower down now resides at 1.2199. The low seen so far has jus been set at 1.2256. It is currently trading at 1.2258
Market News
All News-
Bitcoin busts above triple top and sets new 2023 rebound high
Following on from an earlier update here, noting the prospect of Bitcoin potentially taking out the previous set of daily highs, the lead coin has now... -
Santa is on his way it seems as European stocks gain-check out the DAX now
The rise across the major European stock markets is extending right now. That has seen the FTSE 100 push further above 7,500 and the DAX rise towards... -
USD/JPY drops back below 148 as EUR/JPY unwind continues
All this week the price action in the EUR/JPY has been largely characterised by a downside reversal from what was an electric rise to above 164 (164...