EUR/USD USD/JPY GBP/USD Daily Outlook: December 07, 2012
Deltastock | Dec 07, 2012 06:55AM ET
Current level - 1.2970
The EUR/USD daily close below 1.30 is a signal of further decline. The downward movement is only corrective in nature, and it is expected to stop at levels between 1.2835 and 1.2880.
USD/JPY
Current level - 82.49
The pair is stuck in a range in the 81.60-82.80 area. Only a break above the crucial 82.80 will be considered a proof of control of the bulls. On the downside, only a drop below 81.60 and consolidation will be an indication of a trend reversal.
GBP/USD
Current level - 1.6050
The downward movement of the currency pair is only corrective. The pair is anticipated to fall below 1.60, but the slide should be contained within the 1.5913-1.5987 support zone. Once the uptrend is resumed, the next target for GBP/USD is 1.6140 followed by the 1.6175 major resistance
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