Pound/Dollar – Triple Top Technical Rejection – Fiscal cliff In Focus

December 27, 2012 in Forex Fundamentals and News

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Pound/Dollar – Triple Top Rejection – Fiscal cliff In Focus 

  • As noted in our recent updates the pound/dollar currency pair has now failed on three separate attempts to break sustainably through the 1.6300 area.  The 1.6300 area triple-top rejection has now seen an extended follow through over the recent trading sessions.
  • Market participants attention is now firmly back on negotiations around the so called U.S. ‘fiscal cliff’.  Barack Obama – the US President – has cut his vacation in Hawaii short and is flying to Washington in order to continue negotiations and attempt to reach a deal.  
  •  In related markets the sterling/yen pair is trading around the highest level seen since April 2011, as the JPY has experienced further depreciation and continues to broadly under perform.  EUR/GBP is trading above the recent 0.8164 range resistance highs as the EUR/USD has held relatively firm while cable moved lower.

gbpusd

GBP/USD Technical Update – 27/12/2012

gbpusd 2012-12-27

 

 

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