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Forex Flash: Gilts set sights on 114.60-116.60 range – RBS

According to Dmytro Bondar, a Technical Markets Strategist at RBS, “From safe havens, Gilts look far less attractive, as a break of the recent ranges brought he market to the 114.58 retracement level (50% of 2012 extremes), while the former support of 116.00 has now turned into resistance. The overall bias is for a range of 114.60-116.60 with a possible recovery towards 117.80 if the latter is broken. However, this is unlikely to happen in the near-term. For the next week, we favor a range trade between 114.60 and 116.60. A break of 114.58 triggers a move to 114.00 and 113.14 – an upside break points to recovery towards 117.82.

Forex: GBP/USD breaks down 1.5435 towards fresh 7-month lows

The Sterling is trading lower today against the US Dollar and following a 60 pips decline in the latest hour from 1.5485, the GBP/USD has broken down the 1.5435 support to reach a fresh lowest level since July 13th at 1.5425.
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Forex Flash: Divergence in the Force - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale feels that the risk reward of ultra easy monetary policies continues to be reassessed.
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