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Forex Flash: GBP/USD decline has reached exhaustion - Lloyds Bank

By FXstreet.com,  November 24, 2011, 11:20:00 AM EDT

FXstreet.com (Córdoba) - The same short-term contrarian indicators which identified the 1.6167 peak on 31 October now suggest this month's decline has reached exhaustion, according to the Lloyds Bank Corporate Markets Research. "This coincides with the market testing longer term trend support at 1.5554 on a month-end basis".

"Therefore there is a relatively attractive opportunity to buy on a short-term contrarian basis into the longer-term bull trend", said the analyst team.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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