GBP/USD Oct 14th 2011 - FX Solutions Update

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by: fxsolutions
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Date: Thu, 27 Oct 2011 Time: 1:20 PM
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FX Solutions provides an update on GBP/USD activity for 14th October 2011:

"The GBP/USD weekly chart showed an increase in confidence as buyers lifted the currency pair higher in this week trading. The pair sits below 1.5800 after seeing a sharp decline for seven weeks from a high of 1.6618 and as long as GBP/USD stays above 1.5538 the odds suggest a trend continuation towards 1.5900 as first base followed by 1.6150 as a further possibility. On an intermediate term basis the pair remains bearish and until a trend reversal on a larger degree has taken place rallies may be short lived."

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FX Solutions is a leading forex trading broker with a focus on advanced currency trading technologies, transparency of transaction and unparalleled customer service. FX Solutions serves retail clients, white label partners, institutional trading partners and introducing brokers in over 140 countries.

FX Solutions' products are regulated in the United States, United Kingdom and Australia. FX Solutions in the United States is regulated as a member of National Futures Association, and registered with the Commodity Futures Trading Commission as a Futures Commission Merchant. In the United Kingdom, FX Solutions is a registered trading name of City Index Limited which is authorized and regulated by the Financial Services Authority. FX Solutions in Australia is a registered trading name of City Index Australia Pty Ltd. which is authorized and regulated by the Australian Securities and Investments Commission.

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