No the GBP/USD is moving down town towards 1.5899, the weakness of the Pound sterling is linked to the BOE recent statements and housing data that indicate the UK recession is not "over" and will be with us for some time. Now i personally believed the GBP/USD would rally back up once it hit the 1.6120 area, but i was wrong.
Will just have to wait for the bottom and then buy up the market, offsetting any losses.
This is the most volatile pair on the FX exchange.
Last edited by DBFXBroker; 07-08-2009 at 10:11 AM.
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