A Look At The GBP/USD From A Longer Term Perspective

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A Look At The GBP/USD From A Longer Term Perspective

By Greg Michalowski on March 19, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The GBP/USD has also moved higher off the dollar weakness. The pair moved through trendline resistance today and is moving toward the 100 day moving average which comes in at the 1.4709 level.

Relatively to the other currency pairs, the pound has rallied less against the US dollar as the UK is also doing its own quantitative easing by purchasing back Gilt securities from financial institutions (Gilts are the equivalent of Treasury bonds). The pound is weaker against the EUR, JPY and CHF over the last few days (see the EUR/GBP, EUR/CHF and GBP/JPY charts).

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