FX Path

Posted: 06 Oct 2009 08:42 AM PDT

As shown on the EUR/GBP daily chart, after making a minor bearish correction in the current steep uptrend, the euro has begun to resume its dominating position over the British pound. Price is currently approaching the 0.9300 high (almost a 6-month high) that was reached early last week with a clear shooting star candle. For more technical analysis on this currency pair, please click here for Tuesday’s (10/06/2009) Chart of the Day.

- James Chen, CTA, CMT

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