“My relationship with forex is like an old marriage” - Valeria Bednarik, 5 years after we last talked with her. Read our interview with her!
Picture has not changed much across the board as usual on a Monday European session, with majors ranging near Friday’s lows against the greenback. Some limited corrective movements against the dollar are developing particularly among European currencies, although quite shy so far. As for the GBP/USD, the pair trades above 1.4900, still unable to overcome post Payrolls highs around 1.4920 and immediate resistance level. With 4 hours indicators pointing to correct oversold conditions, a recovery above the level could see price extending up to 1.4960, 23.6% retracement of its latest bearish run.
1.4855 last Friday low on the other hand, remains as immediate support, ahead of 1.4830, this year low. A break below this last should anticipate a bearish continuation for the upcoming days, with 1.4720 price zone as first target.
Valeria Bednarik was key speaker at the FXStreet International Traders Conference in October 2009 - Barcelona.
Valeria Bednarik has been an active trader since 2003, specializing in the International Foreign Exchange Market.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
How to trade Non−Farm Payrolls
Tips on How to trade the Non-Farm Payrolls, by Kenny Fisher. Read now
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.