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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