Thursday, February 09, 2012 4:13 PM EST

Forex Trading GBPUSD looks to test the lows from yesterday

Written December 30, 2008 at 12:06 PM EST by Greg Michalowski

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The GBPUSD is approaching the lows from yesterday at the 1.4381 level now. The upside was tried but when a rally failed, and the old low at 1.4466 gave way, the bottom picking traders gave up and the downside was probed. The low so far has been 1.4391. A break of the 1.4381 level should lead to further selling. The GBPUSD has not reached this low since April 2002. For a longer term perspective, the 2002 low reached 1.4041 while the 2001 low reached 1.3681.

Categories: Forex Trading, Misc | Tags: Beige Book, FOMC, GBP, USD

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