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Ikon Forex"Non-US currencies Faced with downside risks"

Discussion in 'Forex Discussions' started by ikonforex, Jan 31, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
    Likes Received:
    GBP/USD opened nearby the level of 1.5915 last Friday. The British Consumer Confidence Index hit the new record low for 22 months that was released last Friday.

    And at the same time, the GDP in the fourth quarter of United States hit the largest growth since year 2005, plus the risk sentiment in market increased, the market sold the high risks currencies with large amount and turned to choose the hedging currencies, USD and JPY.

    In New York hours, the forex price of GPB/USD declined to 1.5823, and then the forex price was the trend of consolidation within narrow.

    At Beijing time 10:00, GBP/USD was 1.5844/48. The predicted lower support level stayed at 1.5740-70 while the upper level was 1.5900-30.

    Forex News bit.ly/iaDHYZ

    Edited By Sarah bit.ly/eGIoaW

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