Tuesday, June 22, 2010

Cable extends rally across the board


The Pound is rallying further across the boar amid UK emergency budget announcement and also favored by an improvement in market sentiment as stocks in the US turn positive. GBP/USD broke above 1.4830 and rose to 1.4859, hitting a fresh intra-day high. The pair is rising considerably on Tuesday trimming Monday losses. 

Cable was rejected from levels below 1.4700 and after UK budget statement started to rally across the board. EUR/GBP fell to 0.8275, reaching the lowest price in a week. GBP/CHF is testing levels on top of 1.6400. 

Against the Yen, the Pound recovered from previous losses and is trading, at the moment, at 134.40/50, a few pips above today’s opening price. 

EUR/GBP (Jun 22 at 18:09 GMT)

0.8292/93 (-0.61%)

H 0.83705 L 0.82759

S3S2S1R1R2R3
0.82440.82640.82850.83010.83220.8343
[?]Trend Index[?]OB/OS Index
Slightly BearishNeutral
Data updated on Jun 22 at 15:58 (15-minute timeframe)

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