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The Pound drops on Fundamental and Technical data!
By Sean Hyman | April 22, 2009
This morning the British pound (GBP) is dropping due to increasing unemployment and jobless claims (as well as a decrease in hourly earnings for those who are employed).
The GBP/USD and GBP/JPY just broke uptrends on the hourly chart and are still headed south.
This is also causing EUR/GBP to be the top % gainer on the day so far at 1.68%. GBP/JPY is the biggest loser on the day so far at -1.80%.
EUR/CHF pierced its lows on the “inside day” trade and has since gone back inside its range. Now let’s see if it takes another “stab” at heading lower since many carry trades are headed south this morning…it could influence this one out of its sideways range as well.
Sean Hyman
www.forextradingblog.com
Tags: blog, carry trade, CHF, EUR, forex, forextrading, gbp, jpy, lower, pound, Sean Hyman, time, trades, trend, unemployment, uptrend, USD
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