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Forex: GBP/USD test 1,4700; USD/CHF falls to 1,6030

Tue, Apr 21 2009, 17:17 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – After breaking 1.4600 and a small correction the pound rallied to 1.4700. Now is testing that zone. For the day GBP/USD has already risen 200 pips, recovering of yesterday losses.

The hard fall of yesterday put doubts over the up trend of the GBP/USD that took the pair above 1.5000 for some hours last week. After that, the sterling fell for three consecutive days.

Swiss Franc rises after half session

After staying in a range between 1.1740 and 1.670 the pair broke below the bottom before the start of the American session. After a pullback USD/CHF test 1.6030. Now is around 1.1650 representing a fall for the day of 0.30%.

The pair continues with an up trend in four-hour charts since yesterday and today moves where not enough to change the scenario.

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