Dollar consolidation

Unemployment claims in the UK and CPI in the US could have a bearing on the Pound Dollar today. The Pound Dollar has entered our sell zone yesterday but not triggered.

Currently XTL is neutral but Stochastics shows oversold and we are at a fib reversal level. We love triangles and have a formation on the daily chart. Breaching this with a BOB should find support at the 1.94 zone.

Today and tomorrow will be intersting for the Sterling.


Chart courtesy of Advanced GET. Data provided by eSignal.

Forex Analysts
Javid Shaik & Anne Chapman