Pound-yen, GBP/JPY came down 160 pips on news 
of the UK Gross Domestic Product (GDP) report. The report came in at 0.6% this morning.
That was even on previous quarter but Index of services fell shot of 0.7% forecast by 0.1% . By norm, this was not enough to create this volatility except the nature of the season.
The cross broke through the today’s trading range and yesterday’s Asian market low - a trading support of 211.79 to make a low of 211.38.
Since blitz it had vacillated between today’s low of 211.38 and 211.79. Could this be another consolidation range for further move? If so which 
direction? See chart.
Is this a sign that the recession is looming or it’s already here? How strong is the pound sterlings in comparison to other world currencies? Have your say.
5 Responses
moneyForex…
i do agree but i don’t think that’s completely true. I’m so confused!…
3+forex+pips+trading…
I don’t mean to be too in your face, but I’m not sure I agree with this. Anyhow, thanks for sharing and I think I’ll come to this blog more often….
forex currency…
I found your post comments while searching Google. Very relevant especially as this is not an issue which a lot of peaople are conversant with….
Marna Desantis…
Every man longs to have a pathway to the information superhighway….
Forex Trading Charts…
There is only one good thing in life, and that is love. ~ Guy de Maupassant…