Valeria Bednarik, FXstreet.com collaborator, comments: "OPEC does not want a rapid, destabilizing rise in oil prices, but the Secretary General says that a move to $80 would not hurt the global economy. Despite that, oil is falling under $ 70 a barrel, helping dollar positive tone that reached the key 1.3770 zone against Euro. Gbp fall is contained by the 1.6300 zone, while Japanese Yen continues hovering around 98.00. Due to extreme over bought conditions of dollar against major rivals I expect some corrective movements"

The Currency at Glance Trend Index is pointing Strongly Bearish with an OB/OS Index showing Oversold.


For more information, read our latest forex news.
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Forex: GBP/USD falls below 1.6300 and posts 1.6245

FXstreet.com (Barcelona) - The rejection from 1.6435 resistance has continued further in the American session, Cable has fallen from this level around 190 pips to break below 1.6300 and post intra-day low at 1.6245. Currently the pair is trading around 1.6270/80, 1.00% below today's opening price.

Valeria Bednarik, FXstreet.com collaborator, comments: "OPEC does not want a rapid, destabilizing rise in oil prices, but the Secretary General says that a move to $80 would not hurt the global economy. Despite that, oil is falling under $ 70 a barrel, helping dollar positive tone that reached the key 1.3770 zone against Euro. Gbp fall is contained by the 1.6300 zone, while Japanese Yen continues hovering around 98.00. Due to extreme over bought conditions of dollar against major rivals I expect some corrective movements"

The Currency at Glance Trend Index is pointing Strongly Bearish with an OB/OS Index showing Oversold.


For more information, read our latest forex news.

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