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Market View Analysis by http://www.megatrade101.com

This is in support of our Market view analysis of July 30 & Aug 02 respectively. Where the GBPUSD has attempted to touch our inital target of 1.5988 as stated. However, indeed GBPUSD still registered a high of 1.5966 slightly below our price call. As of this writing and recording, the GBPUSD is at the 1.5877 corrective move as momentum slowed down on a day to day basis. As most traders and market participants on spot & futures have settled positions comparing with a daily decline on open interest and volume.

This goes the same with the EURUSD pacing with the GBPUSD while awaiting for the NFP numbers on Friday. The correction is also due to the technical adjustments were most prices were at their oversold and overbought areas. Prompting the USDX index to recover above the 81.00bp which the most influenced pair of the USDCHF made a high at 1.0531 at current price. Do expect more wider swings on both directions as liquidations may be within a rapid market where some re-quotes may still happen along the way.

For comparison of prices, a voicebox directly from the interbank Reuters dealing system would definitely help. Please allow us to ask without being sarcastic... how many of the retail broker/dealers offer a direct link or access from their source and trading platform? Ever wondered why? :) Could it be a white label ! Retail traders and FX investors may want to consider getting one to see if they are getting at least some decent price quotes. It can only help!

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