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British Pound To 2.1000 and Higher
By DailyFX Updates | November 5, 2007
Cable continues to make multi decade highs, so where is resistance? A well defined bullish channel along with sentiment indicators that are not yet extreme favor the upside until at least 2.1100. Wave structure and Fibonacci levels pinpoint levels for entry and define risk. Find out where these gbp/usd levels are.
noneTopics: DailyFX.com Updates |
November 6th, 2007 at 7:59 am
In Asia, most markets closed higher on Thursday following the Federal Reserve’s interest rate cut and stronger-than-expected economic growth in the US . In Japan, Nikkei Index rose, led by automobile shares following the recent strong earning results as well as easing concerns of a slowdown in the US, a major exporter destination. Nissan, Honda and Toyota led the gains. In Hong Kong , the local monetary authority cut its short-term interest rates by 0.25 percentage points to 6%, tracking the Fed move.
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