FOREX VIDEO - New York Session Review - August 18, 2009

A report released during today’s London session suggested that prices in the U.K. remained broadly flat in July. In the latest spirit of “less bad is the new good,” the British pound firmed up against multiple currencies. A rather unsurprising US housing starts print sparked a brief rally in the US dollar, only to set the stage for pound bulls to pounce. Those traders who bought the dip in the GBP/USD currency pair during the minutes leading up to the US equity market open, then closed the trade at the hourly 200 ema, realized a profit of roughly 100 pips. Curt Wehrley FX Bootcamp’s Quantitative Analyst

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