The reverse is taking shape - Forex News by FX Leaders

The reverse is taking shape

Posted Wednesday, May 4, 2016 by
Skerdian Meta • 1 min read

Yesterday morning most of the majors reached a peak against the US Dollar, with the Yen falling to 105.50s and the GBP climbing as high as 1.4770. But in midday all the trends reversed and the USD bulls took control. Most major currencies lost about 100 cents against the Buck while the GBP and CAD lost more than 200 pips. This morning the short term USD uptrend has progressed so it looks like a reverse is taking place in the longer term. No one can be sure yet, so we´ll see how it will evolve in the coming days. 

GBP/USD has fallen off a cliff in the last three trading sessions

 

 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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