GBP/USD Sells Off Sharply to Psychological 1.65 Zone
November 20, 2009 - 2:45 pm by Primefx · Leave a Comment
The Cable is undergoing an intense pullback today, dropping beneath all of our previous uptrend lines along with 11/12 lows. The Pound is getting hit by a report from Nationwide and an analyst poll from Bloomberg implying Britian’s housing recovery may be overdone and analysts are expecting a pullback in prices in 2010. These two discouraging news releases tack onto Wednesday’s negative Building Permits and Housing Starts data points from the U.S.
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