Forex | Forex | Forex: GBP/USD recovery tops at 1.6480 (30/06/2009 19:17:00)

Forex: GBP/USD recovery tops at 1.6480

FXstreet.com (Córdoba) – The Dollar is keeping its gains against European currencies. GBP/USD currently is at 1.6455/60 which is 0.55% below today’s opening price. The pair topped today reaching an 8-month high at 1.6745 but then, fell sharply more than 300 pips to 1.6421 (intra-day low). There the Pound found support and rebounded to 1.6480. In the last hours GBP/USD has been steady moving in a small range between 1.6430 and 1.6480.

Cable also weakened today against CHF, EUR and JPY. GBP/CHF reached an intra-day high at 1.8070 during the Asian session but then plunged to 1.7850 during the American. In the last hours the pair was unable to recover. EUR/GBP is holding above 0.8500; after failing to consolidate below that zone. GBP/JPY is 50 pips below the price it had at the beginning of the day. But from intra-day high at 160.15 the pair fell more than 200 pips to 158.10. The Pound is trying to get back above 158.50 .



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