GBPUSD pullback after breaching 1.60 level. The current phase chart indicates that the currency pair is still in “Bullish” mode. The 50 day moving average is around 1.58 level and this serves as the support level. If the price is above to go above 1.60 level again, it will be a very good sign for the bulls.
The currency war has started. US started the ball rolling by injecting liquidity into the market. Just as the problem gambler that blames the casino for his losses, the
The likelihood of further quantitative easing in US caused the US dollar to plunge in value. The EURUSD pierced through the 1.41 level on Friday before easing to 1.39 level.
The phase chart shows that EURUSD is currently in “Bullish” phase. The 50 day and 200 day moving made a golden cross on 4 Oct and the currency pair never looked back. Any pullback has been met with more buying as investors who missed the early moves placed their bets for further gains.
The next resistance for EURUSD is at 1.4216. Support is at 1.3300 level.
