09:22, 01 April

Daily Analysis

On Tuesday last week we covered the GBPUSD which finished the week falling strongly lower to a three week low. To start out the week it was trading around the current key level of 1.32 where it spent most of the last few weeks trading around. In this same period the GBPUSD has increased in volatility but kept right around the 1.32 level, so it will be interesting to see whether it can remain within touch. 
Several weeks ago the GBPUSD fell sharply from an eight month high back down below the key level of 1.32 before rallying again and reaching a nine month high a few weeks ago. Late February was significant as the sterling moved so strongly breaking through the key level for the first time in many months on its way to the eight month high.