Forex | Forex | Oversold Conditions Help Drive British Pound Higher (03/09/2009 12:51:41)

Oversold Conditions Help Drive British Pound Higher

The U.S. Dollar is called weaker this morning.  An equity market rally in China has helped boost demand for higher risk assets overnight.  Both technical and fundamental factors are helping to contribute to the weakness in the Dollar.   The GBP USD confirmed yesterday’s closing price reversal bottom with a follow-through rally overnight.  Yesterday’s bottom and strong move to the upside was triggered by a better-than-expected U.K. Services Report which showed its biggest


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